From the start, his business has been doing well and the sales volume has been climbing from the beginning. This month, his business capital has increased to 850,000 Mongolian (about $590 US). He aims to increase the variety of ice cream products that he offers now. He would also like to add more flavors in his ice cream portfolio. Badam-Ochir says that he would like to expand his ice cream-making capacity as the demand for ice cream surges during this hot summer.
He requests a loan to purchase additional freezer and ice cream ingredients for his 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