Together with her husband Batmunh, Horolgarav has been running a butcher stall at the local market. In 1996 they bought and opened their first butcher stall at the market, giving them 13 years of experience in the industry. Both she and her husband are well respected by their community and have many repeat customers. At the start, their business working capital was 200,000 tugrik (roughly $US140). Because of Horolgarav's 13 years of hard work, her inventory has increased to 2,500,000 tugrik.
With this loan Horolgarav will buy more sheep and cows from local herders. She is planning to buy another stall soon to expand her family 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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