Namsraijav Tsogttugs

Namsraijav Tsogttugs is 24 years old and lives with her husband and 2-year-old son in Tuv province in central Mongolia. She and her family live in a ger, a traditional Mongolian tent home. Her husband, Enkhbayar, owns a microbus and earns money by transporting people. Tsogttugs operates a grocery trading business at the local market in her town. She started her grocery service in 2008 and has quickly made good progress with her business. Her earnings have enabled her to purchase a refrigerator for her business and a computer for her family. Tsogttugs is very hardworking and is focused on operating an honest business. She says, "I will work hard to pay the bank loan on time and I will use it to grow my business." She is requesting a loan in the amount of 1,600,000 tugrug (~1120 USD) to purchase a large amount of flour for her grocery trading business.

XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

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