Oyunchimeg is a hardworking and modest woman who would like to keep growing her business. She says, “ I want to be able to afford my children's university tuition fees so that they can help me after graduation.” She is requesting a 2,000,000MNT loan in order to purchase a large amount of food for her stand and to increase her working capital.
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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Success!! The loan was 100% repaid