Lhamsuren has a small retail business selling dairy products. She buys the dairy products, such as milk, cheese and yogurt, from wholesalers in the countryside and resells them for a profit by going door to door in the family car. Since she started her business in 2000, her working capital has increased from 220,000 MNT ($1 USD=1,400 MNT) to 2,000,000 MNT. She has gained significant experience in this type of business. In the future, she would like to have her own shop with a more diverse selection of dairy products.
She is requesting a loan to purchase more dairy products to increase her 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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