Nomindalai Haltar

Thank you for your loan. It has been disbursed to Nomindalai Haltar by XacBank in Mongolia. We are excited to watch this business grow. Over the 18 months of this loan, XacBank will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

When we stopped by Nomindalai’s stand in the local market, she kept referring to XacBank (Kiva’s microfinance partner in Mongolia) as “my bank,” “my staff” and “my XacBank.” She has been a client for several years and has been very pleased with XacBank.

Originally, Nomindalai sold used clothing, but now, she buys new clothing from Erdeen, China twice per month. She mostly buys shoes and kids clothing, and with this loan, she bought only summer clothing. Although there is a lot of competition in the market (there are 25 other clothing stalls in the same area), she is trying her best to attract clients.

With her profit, she reinvests half in inventory for her business and the other half she uses for her family.

She is very proud of her daughter, a throat singer, who recently performed at a show in town. Nomindalai showed us a poster from the performance and said that she is trying her best for her daughter’s future. Her daughter has been singing since she was 6 years old and attends the University of Arts and Culture, one of the most expensive universities in Mongolia. She believes the talent is passed down from her husband’s great grandmother that was very famous throat singers many years ago.

Thanks for your help Kiva lenders!

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At the end of this loan, non-delinquent borrowers will be given back 9% of the interest he or she paid, due to the 0% interest capital XacBank received from Kiva. The repaid interest will be placed in a XacBank savings account, giving the borrower an additional financial tool.

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To learn more about XacBank, visit their Kiva partner page here