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Suvdanchimeg is a student at a private university who is studying to earn a bachelor's degree. She is the first person in her family to pursue a university degree, and she lives with her brother and parents who own a private business.

Her dream is to become a lawyer and she needs to study for three more years to finish her university degree. Suvdanchumeg is a hardworking student and is fulfilled by her dreams. She is so grateful to the Kiva organization because without this loan, she would have to miss a year of school.

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
  • 1,557.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Suvdanchimeg to pay tuition at her university.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 20, 2013
Aug 29, 2013
Currency Exchange Loss:
Jan 6, 2016