Davaamunh started his business in 2007 with the help of his friend. He makes a variety of wooden items and furniture according to his customers' orders to support his family. Since 2010, he has operated this business on his own. After years of hard work, he was able to build a workplace in his enclosure. For the future, he plans to decorate his own workplace. Davaamunh is a modest man and is requesting a 1,500,000 MNT loan to make repairs and decoration in his workplace.
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