Tumenjargal began recycling bottles and cans for profit in 2000, operating from a rented cabin advantageously located near a railroad and bus stop on the outskirts of the city. She purchases bottles and cans from individuals and then sells them to larger recyclers. Her business has of late become stable. Hardworking and industrious, Tumenjargal supports her family with the income from her enterprise and is able to spend money on her children. She is now requesting a loan of 500,000 MNT to purchase more bottles and cans in order to increase her working capital.
Tumenjargal says, " I wish to have my own land where we can build a house. I want my children to get a good education and have a comfortable life in the future."
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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