G. is 29 years old and lives with her husband and two children in a house in Uvs province in western Mongolia. Her young son and daughter are both in kindergarten. G. and her husband are open-minded and hardworking people and are well respected in their community. They are very proud of their business and feel that it is important to produce these traditional crafts so that future generations stay in touch with Mongolia's history. They are requesting a 1,800,000 tugrug loan to purchase wood and supplies for their wood crafts 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