Mrs. Jargalsaihan lives with her three children in an apartment in the Niseh district of Ulaanbaatar, Mongolia. Her son Olzii-Jargal, age 15, studies food technology at college. Her other children, Buyan-Olzii and Buyanjargal, ages eight and 11, attend primary and secondary schools.
She has already built up a strong supply chain and she delivers dairy products on a daily basis to her customers. She needs transportation in order to make her business efficient and more profitable. For this reason, she requesting a loan in the amount of 5,000,000 MNT in order to purchase an eco-friendly electric and gas hybrid car, which she will use to deliver her organic dairy products to her customers.
More information about this loan
This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.
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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