Bundan has been operating a public transport service between Har-horin and Ulaanbaatar, the capital city of Mongolia, since 2001. After many years of owning this business, he has built a stable operation and has gained not only much experience but also a positive reputation among his customers. With his business profits, he was able to build a house in his enclosure where the family currently lives. For the future, Bundan plans to start saving money for his children's future. He is a very business-minded and clever man and is requesting a 1,300,000 MNT loan to purchase parts and tools for his mini-bus.
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