He started his dairy products selling business in 1990 with just one cow. Now he owns seven cows and makes various kinds of products. Because his business has been doing so well, he can hardly meet the demands of his customers. As a result, he is requesting a loan in the amount of 2,500,000 MNT to buy two more cows.
He explains that he is a strong and diligent man who will do everything he can in order to educate his children because he does not want them to grow up as he did.
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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