Enhmaa has a small retail business selling second-hand clothing. She has been selling clothes for the last eight years in the Narantuul market. She usually purchases her clothes in large bags in the wholesale section of the Narantuul market and sells them individually for profit. Her family currently lives on a piece of land owned by Enhmaa's sister. In the future, she hopes to buy her own land and build a small house for her family. She requests a loan to purchase more second-hand clothes 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