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Baigalmaa
Baigalmaa, 47, lives with her husband and 3 children in a ger in Uvs province of Mongolia. Her husband Hohoo helps his wife to run their family cafeteria. Her children Anhbolor, 23, and Ganzorig, 21, are university students and Gantulga, 17, is a senior student at a local secondary school. The borrower has been running her cafeteria business since 1998. This is their family business and covers their family expenses and their children's education fees. She is now requesting 5,000,000 MNT to pay her children's spring semester tuition and purchase extra equipment for her cafeteria from Ulaanbaatar so that she can run her business more smoothly. She is a hardworking, enthusiastic and strong 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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,600 helped Baigalmaa to pay her children's spring semester tuition and purchase extra equipment for her cafeteria.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 16, 2013
Listed
Apr 17, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 26, 2013