He says, "My wife and I have worked hard to pay tuition fees for our three children, and now they have all graduated from their universities. Now we need to help them have their own lives separate from us.” He is requesting a 2,500,000 MNT loan to purchase more clothing for help expand his retail trade 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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