In 2000, she rented a stall in the Narantuul market, the largest open market in Ulaanbaatar. Since then her business has expanded and her working capital has increased from 2,500,000 MNT (1 USD=1,500 MNT) to 4,500,000 MNT. Her husband is also involved in her small business. When she travels to Ereen, China (a border town where cheap goods enter Mongolia) to purchase elegant women’s fashion accessories, her husband runs her stall.
Regzenlham and her husband hope to send their two children to universities of their choice. She requests a loan to purchase more fashion accessories from Ereen to increase her business inventory.
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