Mrs. Shinetsetseg has been running a small cosmetics retail counter since 2010. She has built strong relationships with her customers and suppliers over the years. She purchases cosmetics products wholesale and resells them at a retail counter. She pays transportation costs to pick up wholesale cosmetics. She is now requesting a 6,500,000 MNT to purchase an eco-friendly electric and gas car to reduce the transportation costs of her cosmetics business. She is a hardworking, welcoming, and friendly woman.
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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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