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Mrs. Nyamaa is 44 years old and lives with her husband and two children in a ger (Mongolian housing tent) in Huvsgul province of Mongolia. Her husband, Suren, is 43 years old and produces wooden furniture at home. Her daughter, Dolgorsuren, is 21, and son, Baldandorj, is 19; both of them study at universities.

Nyamaa has been working as a saleswoman in a local grocery store for years and started her own grocery business in a rental stall of a local market. Since their family has two students and they are paying for both tuition and living expenses, the family income barely covers their expenses. She is now requesting 2,500,000 MNT (Mongolian tugriks) to pay her children's tuition fees and invest in her newly started grocery store business. She is a hardworking lady who wants to grow their children to be highly educated.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,422.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Nyamaa to pay her children's tuition fee and invest in her newly started grocery store business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
May 29, 2013
Jul 2, 2013
Currency Exchange Loss:
Jun 12, 2015