Dugersuren manages an auto parts business at a local market. He started his business in 2011 after managing a raw materials trading company for three years. Nowadays, auto parts businesses are popular. Therefore, he decided to start his own so that he can earn much more money than before.
Dugersuren is a reliable and trusted loan recipient of Xacbank, the biggest microfinance bank in Mongolia. He is requesting a 3,000,000 MNT loan to purchase auto parts in order to increase his business sales. He is a diligent man who says, "I want to expand my business in order to increase savings for my family."
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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