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Mr. Gantulga is 38 years old. He lives with his wife and three children in a Ger (Mongolian housing tent) in the Uvurhangai province of Mongolia. His wife, Tumendemberel, is temporarily unemployed now and helps her husband to run his business manufacturing wooden furniture. His daughter, Narangerel, age 18, has just enrolled in university, and his sons Lhagvadorj, age 17, and Nandinlham, age 7, go to local schools. He has been running his business of wooden furniture manufacturing since 2007.

He is now requesting 1,800,000 MNT (Mongolian tugriks) to pay his daughter's university tuition fee and other school expense. He is a hardworking, diligent and responsible 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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,300 helped Gantulga to pay his daughter's university tuition fee and other school expenses.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Dec 19, 2012
Jan 18, 2013
Currency Exchange Loss:
Feb 15, 2013