Shiirev is a very hard-working person with a great business mind. He says, “I would like to expand my business and open a larger auto repair center.” He is now requesting a 3,500,000 tugrugs (~ 2450 USD) loan to purchase machinery parts at wholesale prices for his 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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