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Tsolmonbaatar is 44 years old and lives with his wife and 2 sons in a house in the Uvurhangai province of Mongolia. His wife Javzandolgor, age 46, helps her husband's business of manufacturing traditional boots from home. His sons Bavuusuren, age 20, and Baatarsuren, age 18, are university students.

Tsolmonbaatar has been running his traditional boots manufacturing business at home since 2004. He and his wife have gained a lot of experience and customers over the years. He is now requesting 3,500,000 MNT to pay his sons' university tuition and dormitory fees. He and his wife are both hardworking and modest people.

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
  • 16
    View loans »
    Mongolia Loans Fundraising
  • $15,459,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,525 helped Tsolmonbaatar to pay his sons' university tuition and dormitory fees.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Feb 18, 2013
Mar 22, 2013
Currency Exchange Loss:
Feb 17, 2015