Oyundelger, who had been working as a saleswoman in the local market since 2008, started her own organic vegetable retail business at that market in February of 2012, having received a new business loan that she has since repaid. She is now requesting a loan of 3'000'000MNT to purchase a large amount of organic vegetables to sell during winter and spring. A hardworking and responsible woman, Oyundelger says, "XacBank loans help me a lot, and I really appreciate that they granted me a loan."
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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