Oyunchimeg began operating a clothing sales business in 2006. She rents a stall at a local trading center and sells consumer goods such as hats and sunglasses, which she imports from China. She wants to expand her business and increase her profit in the future. Oyunchimeg is a hardworking and modest person who says, "I am trying to expand my business and save money for my children's future studies." She is requesting a loan of 2,000,000 MNT to import more consumer goods from China.
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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