Altanzul manages a felt craft making business with the help of her husband. They started their business in 2002 and gained much experience. In 2008, they decided to start an agriculture business with their savings. They plant buckthorn and trees inside the greenhouse located on their land and sell their planted trees when they reach 2 years old. They earn 5 million MNT yearly from tree sales. They currently have 5 million MNT of inventory that will be sold this summer. They are hardworking people who contribute their earnings for their family's use. They say, "One must be healthy to lead a happy life." Altanzul is requesting a 2,000,000 MNT loan to purchase felt and seeds for her two 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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