His wife helps his business and his children go to the college. He worked in a private company as a civil assistant engineer for 30 years.
He has just started a grocery store business. But he lacks working capital, so he needs 2000,000 MNT to purchase goods for his grocery business.
Mr. Battulga is a hardworking and tidy man. He said, "My business efficiency and profit is produced by expanding the grocery store business and improving my life." Now his business is sustainable and has many regular customers.
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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Success!! The loan was 100% repaid