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Mr. Luvsandorj, 36 years old, lives with his wife and 2 children in a ger (a traditional Mongolian yurt) in Govi-Altai province, Mongolia. His wife, Sarantuya, helps him run his wooden furniture manufacturing business and attends a specialty training school. His daughter, Uyanga, age 10, goes to the local school and Ariunsan, age 3, goes to a local kindergarten. Luvsandorj has been running his wooden furniture manufacturing business for 10 years. He is now requesting a loan of 800,000 MNT to pay for his wife's tuition fees. He and his wife are both hardworking and diligent people.

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
  • 1,372.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Luvsandorj to pay for his wife's tuition fees.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Jan 3, 2013
Jan 31, 2013
Currency Exchange Loss:
Sep 21, 2013