Dosmuhan manages a clothing sales business in his town. He started his business 2 years ago with his wife's help. They used to operate a grocery business which wasn’t profitable enough to feed their family. So they decided to open a clothing sales business based on serious market research. Dosmuhan bought a booth valued at 1,000,000 MNT in order to start the business and with only 2 years of operation, he managed to stabilize his business and build a good relationship both with his customers and suppliers. He is a good man who possesses lots of great character. He says, "I want to own my store in the future." Dosmuhan is requesting a 1,000,000 MNT loan to purchase more collections of clothes 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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