In 2008, in addition to his meat business, Ulziit’s husband decided to open a retail clothing business out of a rented stall at the local market. Using their business profits, they also purchased and own a small grocery shop next to their home. Her husband plans to continue operating his meat business during the winter when it is very profitable.
Since operating their businesses, their quality of life has been improving year by year. Ulziit is requesting a 1,500,000 MNT loan for their meat trading business. She hopes to continue being successful and to grow her businesses.
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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