Unfortunately, a few months ago his van's engine developed a problem, forcing a halt to his business. A sharp and hardworking man who says, "It has been terrible since my van broke up. My child has been born and he needs me," Baatarzana is requesting a loan of 2,500,000 to purchase spare parts to repair his van.
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