He has been working at clothes selling rental counter of a shopping center as assistant salesperson since 2005. He has gained a lot of experience and built close relationships with customers. He is now starting his own clothes shop at a rental counter in that shopping center. He is a hardworking and cheerful person. He is asking for 2,500,000 MNT to cover rental fee and to purchase clothes and other goods to resell at his counter in retail price.
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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