Nyamaahuu has operated a vegetable sales business in her town since 1990. In the spring, she plants a variety of vegetables, including cabbage, carrots and potatoes, and sells them in the fall. She is planning to continue and to expand her business in the future. She is a polite woman who says, "All I want is to get my children educated and help them to be better persons." She is requesting a 350,000 MNT loan to purchase seeds and other needed equipment for her business.
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