Tsegmid established a small grocery store, in a spare room of their house in town, in 1998. This business has been her family's only source of income, and with the profits she has paid all her children's tuition and has helped them to begin their own lives.
She purchases organic dairy and meat products directly from herders, and sells the products to her local customers at retail prices. Now she is requesting a loan of 3,000,000 MNT to purchase more organic dairy and meat products, to resell in her store. She is a hard-working, optimistic and welcoming woman.
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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Success!! The loan was 100% repaid