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Mr. Davaachuluun is 53 years old and lives with his wife and son. They live in a ger in Govi-Altai province of Mongolia. His wife Oyun, age 53, works in a local company as an assistant worker. His son Tserendolgor, age 23, is a senior student at university, studying engineering. Mr. Davaachuluun has been running his butcher shop in a local market for years. He has built strong relationships with customers and suppliers over the years. He is now requesting 1,000,000 MNT to cover his son's university tuition fee. He is a hardworking and modest 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 $725 helped Davaachuluun to pay his son's university tuition fee.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 19, 2012
Jan 18, 2013
Currency Exchange Loss:
Apr 17, 2013