In 2007 Sarantuya began selling groceries at the Orkhon Marketplace in Ulaanbaatar, the capital city. In 2008 she moved to a new market and began leasing a booth there. She recently was able to acquire one more booth to expand her little store. With a loan she will be able to buy and then sell all kinds of foodstuff instead of the limited groceries she is able to buy now. One day she also hopes to be able to get a car.
She and her husband have lived in their own two-room apartment for six years now, with their son Undrahbulag, who is 8 and is in 2nd grade, and their daughter Indra, who is 5 and is in kindergarten. Her husband Altanbulag makes furniture for a living.
She is a very unassuming and pleasant person. She is very sincere and treats everyone the same. She has good business sense, and no bad habits.
Founded in 1998, XacBank is a community development bank and microfinance institution in Mongolia, and is headquartered in Ulaanbaatar. It currently serves approximately 16,000 micro clients at 76 branches in all 21 aymags (provinces) in Mongolia, making it the largest microfinance institution in the country.
XacBank's mission is to contribute to sustainable development of Mongolia that can come only from educated and skilled people and competitive and dynamic businesses concerned equally about Planet, People, and Profit. The Bank will provide equitable access to transparent, reliable and responsive banking products and services to the Bank’s clients, including its traditional Micro-entrepreneurs as well as Small and Medium businesses.
Your loan enables XacBank to expand its microloan capacity and return a portion of the interest back to the borrower at the end of the loan term
To learn more, please visit the XacBank website at: www.xacbank.mn.
This 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.