Amantai operates a meat trading business with her husband. She started her business in 1999 and has gained much experience over the years. Amantai's husband purchases livestock at wholesale prices in the countryside. Amantai and her husband slaughter the livestock and sell the meat to retailers for a profit. Their daily revenue exceeds 60,000 tugrugs (~$45 USD), and their business profit margin is 30%. The meat trading business requires a lot of hard work, including slaughtering the livestock and preparing the meat for sale to traders. However, they cooperate with local restaurants, and they have a loyal customer base which brings in a lot of profit for them.
With their business profits, they provide the money for their family's expenses and, besides that, they purchased a personal computer for their children's education with the XacBank installment. Amantai says, “I would like to save money for my two sons' education fees.” She is requesting a 2,000,000 tugrug loan to purchase a large amount of meat 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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