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Lhagvadorj
Lhagvadorj is 25 years old and lives with his wife and son in a ger, a traditional nomadic tent, in the Uvs province of Mongolia. His wife Odontuya stays home to care for their baby boy, Sergelenbold, who is 12 months old.

Lhagvadorj has graduated as a hospitality manager and has started his own business of clothes retailing in a local market. He is a hardworking and diligent man who has already gained a lot of regular customers and experience over the last few months.

He is now requesting a loan of 6,0000,000MNT to pay the tuition for his wife's master's program and other costs, and to purchase clothing for resale.

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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,560.4
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,850 helped Lhagvadorj to pay his wife's tuition and other costs, and to purchase clothing for resale.
78% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Aug 5, 2013
Listed
Aug 25, 2013
Currency Exchange Loss:
Possible