B.'s working capital now exceeds 450,000 tugrug (~316 USD) and she has established a loyal customer following because of her delicious, quality meals. B. is requesting a 900,000 tugrug (~630 USD) loan so that she can purchase food supplies and a new stove for her 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