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Mrs. Gantomor is 42 years old, a female head of household who lives with her son in a small house in the Niseh district of Ulaanbaatar. Her son, Ganbat, age 20, is a junior at the technical engineering university. The borrower has been running her barber shop business in a rented room in a public shower place since 2003. She is well-known in the neighborhood and has regular customers. She is now requesting a loan of 2,500,000 MNT to pay her son's university tuition fees and other school-related expenses. She is a hard-working and modest woman who says "My only goal is to raise my son to be highly educated and a well-behaved person."

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
  • 1,387.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Gantomor to pay her son's university tuition fees and other school-related expenses.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 17, 2012
Jan 16, 2013
Currency Exchange Loss:
Dec 17, 2014