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Myagmar is 49 years old and lives with his wife and two sons in a Ger, in the Uvs province of Mongolia. His wife Nyamsuren is unemployed. His older son Otgonhuu is 20 and works at a local company, and his younger son is enrolling in university this year. He has been providing a transportation service business in town since 2001 with his big truck. He transports construction materials by order and has regular clients. He is now requesting loan of 4,000,000 MNT to pay for his younger son’s tuition fees and to replace his truck's wheels. He is a hardworking, honest and modest man.

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
  • 1,430.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,800 helped Myagmar to pay his younger son's tuition fees and replace his truck's wheels.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Jun 5, 2013
Jul 7, 2013
Currency Exchange Loss:
Feb 3, 2015