Delgertsogt is a hardworking and clever man. He is planning to start a grocery store with his wife, so he built a new store building, whose location is the best place to sell food to the locals. Now, although Delgertsogt wants to sell food in his new store, he does not have enough money to buy products to sell.
His children's education is very important to him. Delgertsogt said, " I am working for my children's future. They will soon go to college together; therefore I have to prepare for their college tuition." He is requesting 2,000,000 MNT to purchase products to sell.
More information about this loan
This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.
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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