Enhtsetseg graduated from a manufacturing and specialty training center as a chef in 2007. She has been working as an assistant chef and chef for a small cafeteria since then. She is now planning to open her own cafe in a good location where a shopping center and schools are located. Enhtsetseg has estimated her potential income and profit, which would be enough to cover family expenses and save a little for her children's future. She is requesting a loan of 3,500,000 MNT to purchase equipment and inventory for her new cafeteria business. Enhtsetseg is a hardworking, responsible and friendly 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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Success!! The loan was 100% repaid