Adyamaa's business is selling used clothes. She buys used clothes by the kilogram, imported from South Korea. A couple of years ago, she leased a car through XacBank for use in her business. From the previous loan profit, she fixed her house, a traditional Mongolian "ger" (form of nomadic housing). Adyamaa is a hard-working person. She plans to use her Kiva loan to buy more clothing to sell.
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