Amangul started a hand embroidery business in 2004. She improved her business and established her own private company. Her company has 3 staff members. They produce national hats, deels (Mongolian traditional clothes), wallets, and handbags. She uses fabric waste from a sewing factory to make her products. Mostly she sells her products to foreign tourists and exports to England and USA.
Since the national Eagle`s holiday is taking place soon, the demand for her products will increase. Therefore, she is requesting a 6,000,000 Mongolia Tughriks (MNT) loan to buy raw materials and to increase her working capital.
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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