Attributing his business success to its location, Zulaa has been managing a grocery-trading enterprise at his booth near his home since 2000. A polite man who says, "I want to have a workshop place where my son can conduct his shoe-making business," he is requesting a 1,500,000 MNT loan to purchase grocery items for his business and some materials for his son's shoe-making operation.
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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