Her husband owns livestock and works as a herder in the countryside outside of their town. G. operates an imported clothing and household goods business out of a stall in a local market. She began her business in 2008 and has been able to increase her family’s earnings greatly in that short amount of time. Her business has stabilized over the past year and she has begun to integrate herself into the business community. She would like to eventually increase her profits enough so that she can afford to build her family a house to live in where they can be more comfortable.
G. is requesting a 1,500,000 tugrug loan in order to import a large number of hats, coats, jeans and pants from China, as well as some household items for their ger.
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