Delgermoron frequently travels to Ereen, a Chinese border town, where many products are imported from, and buys inventory for her stall in the Narantuul market. When she runs out of a specific size of slippers or flip flops, she can buy them from a wholesale market in Ulaanbaatar. With her profit, she was able to buy her own ger, a traditional felt tent that many Mongolians still use. Next, she would like to set aside some money for her son's education. She hopes to ensure that her only son receives a good education and pursues his dreams.
She requests a loan to purchase more slippers and flip flops for her business.
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