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Mr. Sainbayar is 24 years old and lives with his wife in Ger in Bayanhoshuu Province of Ulaanbaatar, Mongolia. His wife, Undrah, studies at university. This borrower has been running a taxi service business in town and inter-city for four years. He is a well experienced and hardworking man. He is now requesting a 3,000,000 tugrik loan to pay for his wife's university tuition fees and other school-related 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 $2,175 helped Sainbayar to pay for his wife's university tuition fees and other school-related expenses.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Dec 22, 2012
Jan 20, 2013
Currency Exchange Loss:
Sep 17, 2014