Otgonbayar has found success in her business and was recently able to purchase her own counter with her savings. Otgonbayar is always working hard to grow her business, however, providing for her family has always been her her primary concern. She uses all of her earnings to improve their quality of life.
For the future, Otgonbayar's dream is to establish a large trading center in her province. However, she knows in order to fulfill this dream she must first grow her business, increase her cash flow, and purchase new supplies. Otgonbayar is requesting a 2,000,000 tugrug (~1400 USD) loan to purchase more supplies for her religious objects 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