As auto parts make up a large portion of his sales, Tserenbat hopes to take advantage of the rapidly-growing number of Mongolians who own cars. He is requesting a 2,500,000 tugrug ($1,750 USD) loan to purchase more machinery parts for his business. His dream is to one day own his auto parts store.
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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