Mrs.Batchuluun was a cook at a local cafe and customers loved her meals. She has decided to cater for local company employees for lunch and other meals. She already had talked with several managers and contracted with some of them. She will be starting to cook various kinds of Mongolian traditional dishes at home to sell to employees for lunch and deliver to companies. She won't be needing a workplace. She is well-experienced and popular with local customers. She is asking for 1,000,000 MNT to buy meat and other raw materials when the price of meat has fallen to the cheapest point in the year. She is a hard-working and diligent woman.
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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