A good-natured and hardworking person, Miged has lived in his current home for 40 years and plans to continue operating his business in order to support the education of his two grandchildren. He is now requesting 1,000,000 tugrugs (approx. $690 USD) to purchase repair parts for his car.
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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