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Kirov is 57 years old and lives with his wife and 3 children in Ger in the Govi-Altai province of Mongolia. His wife Tseveendulam, age 45, helps her husband to run his business. His 2 sons Enhbaatar, age 22, and Erbold, age 21, and his daughter Buyanhishig, age 17, study at universities.

The borrower has been working at a jewelry manufacturing company for years and has just started his own business of silver and golden jewelry redesign and producer in town. He is well-known in town and has a strong customer base. He is a hardworking and positive person.

Kirov needs an additional 2,500,000 MNT to pay his children's tuition fees and living expenses.

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
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Kirov to pay his children's tuition fees and living expenses.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Dec 15, 2012
Jan 13, 2013
Currency Exchange Loss:
Jun 28, 2013