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Jargalsaikhan is 45 years old and lives with his three children and his wife in a ger, a Mongolian yurt, in the Uvurkhangai province of Mongolia. His two older children are university students and his younger daughter is a secondary school student. His wife helps his business.

Jargalsaikhan started to drive a taxi at their local hometown in 2008. He is planning to expand his business in the future and he purchased a mini-truck for 8,000,000 MNT for his transportation service business. He is a hardworking, diligent and friendly man who says, "If I take care of my car very well, this will be good source of my family income."

He is requesting a 3,000,000 MNT loan to pay for his two children's university tuition fees.

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
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Jargalsaihan to pay two children's university tuition fees.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 26, 2012
Oct 16, 2012
Currency Exchange Loss:
Oct 17, 2014