Oyun has been running her shoemaking business for the last thirteen years and with the profits she has bought a car for her son so he can earn extra income. In his free time, Oyun's son uses his car as a city taxi. Oyun's goal is to ensure that her son will have enough working capital to keep the shoemaking business going after she is too old to work. She requests a loan to purchase raw materials, such as leather and glue for her business.
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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