Chimedtsogzol supports her family by operating a door-to-door grocery and dairy product retail business in her town. She started her business in 2000 with working capital of 80,000 tugrugs (~56 USD). Over the years of business operation she gained much experience and is well known among her customers. Now her working capital exceeds 1,000,000 tugrugs (~700 USD). She attributes her business success to her good accounting and communication skills. She says, "For the future I am planning to expand my business further, but my main business goal is to provide quality products to my customers." She is requesting a 1,000,000 tugrug loan to purchase dairy products to sell this coming winter when dairy products become scarce and prices for these products rise.
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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