She started her business in 2004 by making clothes on rented equipment. She purchased equipment with the savings from her business profit in 2009. She is a well-experienced and hardworking person.
Now, she is planning to expand her business and increase her customer base. She needs MNT 2,500,000. She would like to purchase raw materials for her business with MNT 1,200,000 and to pay tuition for her son with the rest of the loan.
More information about this loan
This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.
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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