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Mr. Zolboohuu, who is 44 years old, lives with his wife and three children in a small house in the province of Arhangai. His wife, who is 23, works as an assistant instructor and earns a salary of 400,000 MNT. Their oldest daughter is a college student and the other children go to a secondary school.

Mr. Zolboohuu operates a goods transportation business with a Russian truck in the countryside. Now he is running a public transportation business with a Russian micro bus. One trip's profit was 350,000 MNT. Because of his experience, he has many regular customers for this job. Now he requests a 1,000,000 MNT loan for his daughter's college tuition.

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
  • 1,382.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Zolboohuu to pay for his daughter's college tuition.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Aug 23, 2012
Sep 17, 2012
Currency Exchange Loss:
Oct 17, 2014