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.
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 XacBankThis 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.
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This loan has been fully funded!