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Update on Davaamaa

Mrs. Davaamaa is 42-year-old widow who lives with her 3 sons in a ger in the Uvurhangai province of Mongolia. Her sons Lhagvasuren, age 22 and Baljinnyam, age 19 are university students and Togsjavhlan, age 9 goes to local school. Davaamaa has been running an animal pelt stall in a local market since 1990. She has a lot of regular suppliers and she sells to companies at a higher price. She is now requesting 1,000,000MNT to pay the outstanding balance of her sons' university tuition fees. She is a hardworking, responsible and modest woman who has a good loan record on her previous loans.

Previous Loan Details

Davaamaa, 40, is a widow and lives with her three sons in Uvurhangai province in Mongolia. Her older son goes to college and the younger two attend a local school. Now they live in a ger, a Mongolian housing tent, in someone's backyard close to the city center, since the land that they own is too... More from Davaamaa'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

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Davaamaa to pay the outstanding balance of her sons' university tuition fees.
95% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Jan 18, 2013
Feb 17, 2013
Currency Exchange Loss:
Jan 17, 2014