Since Alttsetseg's husband passed away, she has been operating her business and taking care of her family on her own. She is a very hard-working person and is optimistic about the future. To save on transportation costs, she purchases her products with other traders. Alttsetseg purchases her products once or twice a month and spends 800,000 – 1,200,000 tugrugs (~570 – 860 USD) per purchase. As her business is the only source of income for her family, it is very important to her. She says, “As prices have increased, being in business requires more working capital. I will operate my business from one shipping container until my daughters have grown up.” She is requesting a 2,200,000 tugrug (~1570 USD) loan to purchase second-hand products for summer which she will sell from her shipping container.
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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