Davaachimeg started her business in 2004 by selling boots at Narantuul, Ulaanbaatar's largest outdoor market. She has since changed her business to selling second-hand clothes that are imported from South Korea. Over the years she has gained much selling experience and her business is successful. She focuses on being very responsive to customer's demands, thus her goods don't sit long in her stall.
Davaachimeg's husband drives a taxi between UB and Choir, a busy town in southeast Mongolia, and helps his wife out at the market in his free time. Her sister also helps out by watching the baby for them when they are busy with work. For the future, Davaachimeg says "From my business' profits I'm going to start saving for my baby's future. Also, we want to purchase a bigger car." She is requesting a 2,000,000 tugrug loan to purchase more goods.
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