Previously, Rolom had been operating a clothing manufacturing business, which she still runs in her spare time. She operates this business with her daughter, and they produce "deel" (Mongolian traditional clothing), coats, bags, and more. Rolom is requesting a 2,000,000 tugrug (~ 1400 USD ) loan to purchase a large amount of silk and material in order to produce and sell Mongolian traditional clothing during the upcoming Mongolian Lunar New Year celebration. Rolom is a decent, very hardworking, precise and optimistic person. She would like to create a secure financial future in order to continue to pay for her children's education.
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