Mrs Tuul started her clothes selling business in 2010, with a working capital of 1,000,000 MNT. Now her working capital was increased to 3,000,000 MNT. Her business is sustainable. She would like to expand her business by increasing the variety of goods she offers for sale. She needs 2,400,000 MNT to pay tuition fees for her son. She is a humble person who says ''My dream is to build my own house on my land''.
More information about this loan
This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.
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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