Mrs. Hishigjargal is 55 years old and lives with her son and grandson in a ger in the Bulgan province of Mongolia. Her son, Mongon, is 26 and works at a local company and her grandson, Monhjin, is 14 and studies at a local school.
Hishigjargal has been working as a hairdresser at a local barber shop for a long time. She was previously granted six loans at XacBank and has good previous loan records.
Hishigjargal is now requesting a loan of 600,000 MNT to purchase hairdressing tools and inventory to provide services to her clients. She is a hardworking, honest and welcoming lady.
This 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.