Total loan: $2,750


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Arvaiheer, Uvurhangai, Övörkhangai, Mongolia / Clothing

Aimshiggui's loan finished fundraising,
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A loan helped To purchase second-hand clothing for his business.

Aimshiggui's story

B. Aimshiggui is 32 years old and lives with his wife and sons in Uvurkhangai province in central Mongolia. He and his family live in a traditional Mongolian nomadic housing tent called a "ger". His oldest two sons currently attend a local secondary school and his youngest hasn't yet reached school age. Aimshiggui operates a second-hand clothing business in his town. He purchases second-hand clothing items from Ulaanbaatar, Mongolia's largest city and capital, twice a month and transports them back to his province to sell. Aimshiggui started his business in 2002 by selling a variety of second-hand clothing items. He has successfully grown his business over the years and has gained much business experience. Today, his business continues to grow quickly and he now only sells women's clothing and shoes, which are his most demanded and profitable items. Aimshiggui hopes to continue to maintain his business successfully. He says, "I want to save enough money to support my children's education." He is requesting a 4,000,000 tugrug (~2814 USD) loan to purchase second-hand clothing for his business. About XacBank: XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.
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