Soninhuu has been operating a grocery business since 2007, and since then her business has reached a stable level. She would like to expand the business and one day purchase her own wood pavilion at the local market. Soninhuu is a modest and hardworking woman and is requesting a 3,300,000 MNT loan to purchase more inventory for her growing grocery business in order 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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