She has been growing and retailing vegetable since 2006 and she has done quite well with her agribusiness. She started with little capital, just 150,000 MNT ($1 USD = 1,450 MNT) and now her business capital has increased to 800,000 MNT. She says that she would like to open a small wholesale market for various vegetables in the town. In that way it would be easier to sell her products and cheaper for locals to buy them. She requests a loan to grow more vegetables.
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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