Having developed a stable business, Ahtain is requesting a 2,400,000 tugrug (~ 1755 USD) loan to purchase a trailer with an eight-ton capacity which, according to his calculations, will help to increase his profit by 50%. An energetic person who has a great business mind, he says, “I would like to save my business profit to purchase a car which will be comfortable to use in the city.”
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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