Uransaihan is a trained veterinarian and loves his job. Since 1996 he has been running a small veterinary pharmacy for domesticated animals, mostly for camels, horses, sheep, goats and cattle. He has been quite successful, as his pharmacy has increased its income from 200,000 MNT to 2,000,000 MNT (1,450 MNT = $1 USD) since its opening. Many local herders appreciate his business and are his loyal customers.
Uransaihan says that he would like a loan to expand his business by introducing up-to-date animal medicines for local herders. He would love one day to purchase his first family car. Buying a car has been his family's dream for the last decade. Uransaihan is resolved that this dream will come true one day.
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