Her husband runs a private apartment repairs business with her son. Myagmar helps her husband with the business.
In February, 2012 she started a new business. She started to operate a clothes selling business at a rental counter. Her daughter helps with her business. Her business is sustainable and has many regular customers and suppliers.
Using her business profits, in May, 2012 she bought her own counter for selling clothes. She is well known for her high quality products. She is an open-minded and cheery woman.
In the summer, her product demand is high. Therefore she wants to extend the range of products. She is requesting 1,000,000 MNT to purchase more product items to offer.
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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