She started her business in 2002 by making felt and wool art, and at that time, her turnover capital was equal to 100,000 Mongolian tugriks (MNT). Now, she produces felt slippers, felt underlining and blankets in a rented room. She already has many regular clients. In a few months, the cold will come, and she has a lot of orders for felt underlining and blankets. She needs 2,000,000 MNT to purchase raw materials for her business.
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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