Currently, Havinesh operates a meat trading business at a local market called Tirlih. She has been operating her business since 2000, and it has steadily expanded. She started her business with working capital of 20,000 tugrugs (~15 USD). After years of successful operations, she has increased her working capital. Havinesh is an open-minded person and has many plans for the future. She says, “I would like to expand my business and to purchase my own house and shop in the future.” She is requesting a loan of 1,000,000 tugrugs (~705 USD) to purchase a large amount of meat for 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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