Since 2004, Mrs. Ariunaa has been working as a saleswoman at a butcher shop. The owner of the butcher shop is planning on selling the shop, and she is planning to purchase it and to run it as her own business. She is excited and confident about the opportunity because she has a lot of experience with the business and has built close relationships with suppliers and customers over the years. As a result, she is requesting a loan in the amount of 2,500,000 MNT to purchase the butcher shop. She explains that she is a hardworking, diligent and polite person.
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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Success!! The loan was 100% repaid