Mrs Oyun started her business in 2011 as meat retail at a rental counter on the black market. She has had many customers, and improved her business' net profit. She is planning to expand her business to wholesale meat. She is a modest and hardworking person. She is asking for a 2 000 000 MNT loan to buy more goods. She will buy the goods for the business using 500.000 MNT. She will use rest of the loan to pay a school premium for her older daughter's education.
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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