To earn a living, he manages a photo studio business in his town. Based on teaching and instruction from his brother, he started his business in 2008. At first, it was quite hard to manage his photo studio. But, through hard work, he managed to stabilize his business and to build a strong customer base. He is planning to expand his business in the future. He is a diligent man who says, "I am doing my best in order to feed my family."
He is now requesting a loan in the amount of 3,000,000 MNT ($2,400) to buy new photo equipment for his studio.
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