Adebiet operates a meat trading business in his town with the help of his wife. He started his business in 1998 and has since built a stable operation. After these many years of operation, he has gained much experience in his trade.
People usually prepare their meat for winter between December and March, and therefore during those months the price of meat falls. Adebiet plans to buy a large amount of horse and sheep meat at a cheap price and preserve those frozen meats to sell in the upcoming spring months when the price of such a product is very high.
So Abediet is requesting a 1,500,000 MNT loan to purchase a large amount of meat to sell this spring. In the future he hopes to have his own cellar that can contain a large amount of meat.
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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