As the biggest public celebration, Naadam, approaches in July, Tserendoljin and her husband plan to bring more livestock to Ulaanbaatar. Tserendoljin is requesting a loan to purchase more livestock to prepare for the Naadam celebration in the capital. In the future, she wants to move to the countryside and become a herder woman with some 500 livestock.
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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