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Mrs. Erdenechimeg is 47 years old and lives with her husband and son in the Uvs province of Mongolia. Her husband, Olziibat, age 48, works part-time at a local construction site. Her son, Onorjargal, age 23, is senior student of an engineering university. She has been running a pelt retail business in town. She purchases pelts from herders and sells to manufacturing companies with a higher price.

She is now requesting 1,200,000 MNT (Mongolian tugriks) to pay her son's university tuition fee. She is a hardworking, welcoming and honest woman.

Additional Information

More information about this loan

This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $5,900
    Average annual income
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,444,050
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Erdenechimeg to pay her son's university tuition fee.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 24, 2012
Jan 22, 2013
Currency Exchange Loss:
Jun 7, 2013