N. sells a variety of secondhand clothing items for both children and adults. She started her clothing business in 2007 with capital of 650,000 tugrugs (~460 USD) after previously working as a salesperson. She has quickly been able to build a stable business and has continued to improve her selling skills. Today, her working capital exceeds 1,300,000 tugrugs (~914 USD). N. is very hardworking and hopes her future business success will enable her to support her children's education. She is requesting a 1,100,000 tugrug (~770 USD) loan to purchase blankets, rags, children's clothing, and pants to sell at 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