Dariimaa has a small retail business selling women’s and men's clothing. She started the business ten years ago by renting a small stall in the local market and since then has expanded it significantly. She now has two rented stalls in the town's largest outdoor market and another two stalls in a local mall. She travels to Ereen, China, a border town where many goods are imported to Mongolia, and purchases inexpensive clothes for her business. In the future, she hopes to have her own shop instead of paying high rent.
Dariimaa requests a loan to purchase more women’s and men’s clothes from Ereen, China.
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