In 2006, she graduated from the Science and Technology University of Mongolia. From 2006 to 2008, she worked at a secondary school as a teacher. In 2011, she started her grocery store business.
Now, she is planning to open a cafe at the local market. She says that her husband will help her operate her cafe. She has a relative who is a chef and is going to be the chef at her cafe. She is asking for 2,000,000 MNT to purchase equipment and to cover other expenses for her new cafe.
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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