Enhmagnai D., 42 years old, lives with her husband and two sons in their own house in Uvurhangai province. Since her husband started his business in 2007 transporting raw materials, they have expanded the business type to coal, firewood transport, and trading. They are interested in enlarging the operation still more.
Enhmagnai is very generous and tidy. She is requesting a 3,500,000 MNT loan to purchase a car in order to develop her business activity.
This 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.