Chuluuntsetseg operates a clothing trading business in her town. She started her business in 2006 with working capital of 100,000 tugrugs (~70 USD) and has established her business well in the community over the last three years. She has gained great experience as a businesswoman and has built a loyal customer base. Today, her working capital exceeds 5,000,000 tugrugs (~3500 USD).
Chuluuntsetseg is very hardworking and attributes her success to her good accounting and excellent communication skills. She is optimistic about the future and says, “I am planning to soon expand my business to increase my sales." She is requesting a 3,500,000 tugrug (~2460 USD) loan to purchase clothing items to sell in 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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