Together with her husband, she has been running a clothing business at the local market in a stall owned by her family since 2003. Their stall is located outside of the local market that runs year-round. She is the sole breadwinner of her entire family. Thanks to her cheerful, open and friendly personality, she has many repeat customers.
Jargalsayhan has been a XacBank customer (XacBank is a Kiva's partner microfinance institution in Mongolia) for the past 4 years. This is her fifth loan with the bank, and she has a perfect credit history with no overdue payments. The loans she takes help her to expand her clothing business, thereby increasing her income. With this loan, Jargalsayhan plans to invest in more clothes to increase her business inventory.
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