They have a dream to buy more gers for their children when they get married and have their own lives. The oldest daughter studies at the Nursing College in order to become a very good nurse and help others. The other two daughters go to high school and study very hard in order to further their education and help their parents.
Oyuntsetseg's business is repairing and welding cars and iron goods. They also produce hand-made iron goods, such as chairs and shelves. With the iron goods, they earn 200,000 tugrug (~141 USD) and by repairing cars they earn approximately 300,000 to 500,000 tugrug (~210 USD - 350 USD) in a month. Since the start if the business, they have gained a great reputation among their customers. There is no one in their area unacquainted with them.
When people say "Huyga's home", everyone knows about whom they are talking. "It is significant to be good at one's occupation," says Oyuntsetseg, and that is true for everyone. They want to expand their business on behalf of their children's future. She is requesting a 3,000,000 tugrug (~2100 USD) loan to maintain and expand her car repair 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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Success!! The loan was 100% repaid