Currently, Nyamtsetseg operates a shoe trading business at Har Horin, one of the biggest markets in Mongolia. She started selling shoes at her mother's counter at the Har Horin market, and since 2006 has independently operated her own shoe trading business. Over the years, she has steadily expanded her business and today her working capital is 2,000,000 tugrugs (~ 1410 USD).
Nyamtsetseg is an experienced trader and enthusiastic person who has many plans for the future. She says, "I would like to expand my business and to sell all types of clothing." She is requesting a 1,700,000 tugrug (~ 1245 USD) loan to purchase summer shoes 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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