H. is 35 years old and lives with her husband, son and daughter in Bayanhongor province in central Mongolia. Her family lives in a ger, a traditional Mongolian nomadic housing tent. Her son is a secondary school student and her daughter is in kindergarten.
H. and her husband started all of their businesses in 2004 after selling grocery items for the previous four years. They have found success in all three ventures and have a strong customer base throughout their community. For the future, the couple is planning to expand the building their cafe is in. H. is requesting a 1,600,000 tugrug (~$1120 US) loan to purchase coal to sell.
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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