Altangerel started to sell wood and coal at the local market in 2000 with his wife. Their children help with the business on the weekends. With the profits he earned over the years, he started a recycling materials trade business in 2008.
He is requesting a loan of 5,000,000 Mongolian Tughriks (MNT) to buy more recycling materials and mini tractor for the business to deliver his recycling materials. He is a kind man who says "We planing to build a house with the profits we earn. And we are trusted clients of Хасbank."
More information about this loan
This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.
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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Success!! The loan was 100% repaid