Dulamsuren has been managing various types of businesses for a living over the years. She is a hard-working, optimistic and diligent person who says that: "the grocery store business is lot more profitable than any other business that I have run in the past. It will be able to make enough money to cover my family's expenses and to save for my nephew's future".
Dulamsuren is planning to open a general store at a rented counter in the local market. She is requesting a loan of 3,800,000 MNT to pay for the initial inventory and rent for her new grocery store business.
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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