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Boriya

Update on Boriya

Mr. Boriya is 58 years old and lives with his wife and two sons in the Baganuur district of Ulaanbaatar, Mongolia. His wife, Chuluuntsetseg, age 51, helps her husband to run his business of shoe repair in a rental place. His sons, Batbold, age 21, and Ganbold, age 23, are university students.

Boriya has been running a shoe repair business in a rental place since 1998. He is now requesting 400,000 MNT to pay his son’s university tuition fee.

Boriya is a hardworking and diligent man.

Previous Loan Details

Boriya is 57 years old, and lives with his wife and 2 sons in the Baganuur district of Ulaanbaatar City, Mongolia. He has been running a shoe repair business with his wife since 1998. This has been a family business for 13 years. His 2 sons are occupational training center students. Based on… More from Boriya's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,382.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $300 helped Boriya to pay his son's university tuition fee.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 2, 2013
Listed
Jan 25, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2013
This photo was used before for a previous loan for Boriya. It was first posted on Kiva on Jan, 2012. Learn More