Amgalantor has been running his taxi service business in town since 2009. He has been driving for more than 10 years and he is well-known for his safe and qualified service among customers. He is now requesting 2,500,000 Mongolian tugriks (MNT) to purchase a second hand eco-friendly electric and gas-powered car for his taxi service because his car is very old and needs replacement as it breaks down all the time. He is a hardworking and diligent man.
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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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