Buyanhishig E. lives with her husband and daughter in the Bayanzurh district of Ulaanbaatar, the capital city of Mongolia. Her daughter is five years old and goes to a local kindergarten. Buyanhishig's family moved to the capital city from Arhanghay province in 2007.
Since the move, Buyanhishig has run a small retail business selling children's clothing, especially jeans pants. She rents a stall in a local market and sells mostly jeans for young people. She frequently travels to Ereen, a Chinese border town where clothing is imported, to purchase cheap yet hip clothing for her business. Most of the jeans that she currently has in inventory are for women. She sees a growing demand for men's jeans and will use the Kiva loan to purchase jeans for men. Buyanhishig hopes to build a small family house on the plot of land her family owns.
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