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Mr Suhbaatar is 27 years old and lives with his wife and two children in a small house in Hovd province, Mongolia. His wife, Gerelchimeg, is 27 years old and operates small business. His son, Domogjanhuu, is 6 years old and enrolled in school while his daughter, Nandinchimeg, is 3 years old and attends kindergarten. Mr.Suhbaatar works as musician in the drama theater of Hovd province and earns 310,000 MNT per month. He is planning to teach traditional Mongolian musical instruments to children and is requesting a loan for 3,000,000 MNT to buy instruments to use in this course. He is a hardworking, honest and talented man.

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 Suh-Ochir to buy musical instruments to use in a course.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 21, 2012
Oct 17, 2012
Currency Exchange Loss:
Oct 17, 2014