Currently, Erdenebat operates a taxi service in his town. He has been operating his business since 2004, and has gained much experience during these years. He is a very hard working person and he says, “I would like to expand my business and to improve the quality of my family's life.” He is requesting a loan of 2,000,000 MNT (~1407 USD) to purchase spare parts for his car for his taxi service and more DVDs for his wife's movie rental 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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Success!! The loan was 100% repaid