In 2007, Dulmaa opened a food stall at the Tsahiur local food market. She sells mostly bottled and canned foods and biscuits. Dulmaa purchases the food in Ulaanbaatar, the capital city, at wholesale prices, and then resells them at a retail prices to local residents.
Dulmaa is a humble, hard-working lady. With her future profits, she plans to have her own stall, instead of her current rented stall. With this loan, she will purchase a variety of food products 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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Success!! The loan was 100% repaid