Tseepil purchases the raw materials every week and resells them for a profit. Raw material businesses require a large amount of working capital, therefore she cooperates with two other people who run the same type of business. They share the profits depending on the contributed amount of money from each person. In addition, Tseepil grows vegetables for her family's usage. She is a very hard-working person and is focused on the future. Currently, the most important thing to her is to purchase more raw materials for her business. Tseepil is requesting a 1,000,000 MNT loan to purchase more cashmere 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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