Davaadorj has been in this business for the last five years and acquired many customers in the countryside. He works hard to earn enough money to save up for his daughter's university tuition as she starts university next year. He is requesting a loan to purchase more food products for his 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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