Tsedendash is 24 years old and lives with his wife in Tuv province, one of Mongolia's central provinces. His mother is retired and now helps with her son's business. Tsedendash requests a loan to purchase paint and necessary accessories to fix up his minibus.
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