Amarsaikhan operates a used clothing retail business. She began her business in 1999 with a working capital of 50,000 tugrug (~35 USD). After years of hard work, determination and good business sense, her working capital now exceeds 450,000 tugrug (~316 USD). She is known to provide a wide variety of quality clothing to her customers and has a large customer base in her local market.
Amarsaikhan is requesting a 400,000 tugrug (~280 USD) loan in order to purchase more quality used clothing 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