Depending on the monthly sale amount, he travels to Ereen, China, once or twice a month to bring back clothes for his business. While he is away in Ereen, his wife helps in his business as a saleswoman at his stall in the market. In the future, he hopes to open a large shop for various apparel.
Bayarsayhan also says that he hopes to start saving some money from his business's profit for his children's future education. His dream is to see his two children receive a good education and pursue their dreams. He is requesting a loan to purchase more clothes from Ereen, China.
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