His daughter enrolled in the university, and the older three children are now university students. They need to cover their living and school expenses from this year on forward. He and his wife need to work harder to earn enough money to cover their education expense, and let them obtain a decent education for their future.
He is now requesting loan of 5,000,000 MNT to purchase oil, spare parts, and other materials, and to pay his children's living expense at the university.
He is a hardworking, determined, and confident man who works for his family.
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 XacBankThis 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.
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Success!! The loan was 100% repaid