Munhzaya T. lives with her husband and three children in the Narantuul district of Ulaanbaatar, the capital city of Mongolia. Her two older children are high school students, and the youngest daughter goes to a local kindergarten.
Munhzaya runs a small fast food cafeteria in the city. She started the cafeteria in early 2008. Her cafeteria is located in the busiest area of the local district, and is usually full with customers who work and live in the neighborhood. She has hired a cook and a waitress and the cafeteria serves 12 different types of local food. She is focusing on food quality and customer satisfaction in order to attract more local customers. One of her biggest dreams is to make the cafeteria business hugely successful and then to expand her cafeteria to a bigger restaurant.
Munhzaya requests a loan to purchase food ingredients like flour, vegetables, and meat.
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