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Tungalagtamir, who is 43 years old, lives with her husband and son in a small house in Arhangai province. Her husband operates a business transporting and selling coal. Her son becomes a college student this year. She and her husband sell coal to residents of Ulaanbaatar in the winter, and their profit is 1,000,000 mnt. In the summer, they transport goods between Ulaanbaatar city and Arhangai province, and their profit is 350,000 mnt. Last year they repaired their house with their business profit. Now they are requesting a 3,800,000 mnt loan to pay their son's college fee.

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 $2,750 helped Tungalagtamir to pay their son's college fee.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 23, 2012
Sep 28, 2012
Currency Exchange Loss:
Aug 17, 2014