Suren is good at managing money and says, "I'm saving money in order to pay my daughter's tuition". She is requesting a 2,000,000 tugrug loan (approx. $1,375 USD) in order to increase her working capital and to purchase clothing 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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