Enhtsolmon, who started his carpentry business in 2007, now has many customers but can't meet their needs due to a lack of equipment and tools. A sharp and hardworking man, he is requesting a loan of 500,000 MNT to buy tools and equipment.
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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