In 2000 Damba opened a small shop where he sold food. Since then, he managed to expand his shop into a bigger grocery store. During years of successful operation, his earnings enabled him to provide for his three other children who are now married and live separately on their own.
Damba is requesting a 3,000,000 MNT loan to purchase more products to sell at his shop. In the future, he plans to expand his grocery store into a supermarket. Damba is a hardworking and modest man and says, " My goal is to enlarge my house."
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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