Dolgorsuren started her business in 2005 and now sells more than 200,000 MNT worth of goods every day. She has also begun importing products from China, and says, "Previously I used to buy my products from wholesalers in Mongolia. However, I began importing my goods directly from China, and it is much more profitable than before."
Dolgorsuren uses her profits to care for her daughter and buy the many things she needs in life. She is an open-minded woman who says, "I am working hard to save money to build a house." She is applying for a loan of 2,500,000 MNT to buy construction materials for this new house.
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