Mrs. Bayarmaa has worked as a chef in private restaurants and cafes. She is starting her new business of food delivery. She did a trial of her newly-starting food delivery business and it was very attractive to customers. She estimated potential profit from this business. She is also planning to expand this business in future.
Mrs. Bayarmaa is a modest and hardworking person. She is asking for a loan of 1,700,000 MNT to purchase inventory for her food delivery business.
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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