Oyunchimeg has been working at various fields for years until now.
She is now starting her own business of running a grocery store in a rental place. For years, she has also been helping her sister to run her grocery store during her free time, so she has experience in the business.
Oyunchimeg is now requesting MNT 2,000,000 to purchase a starting inventory for her grocery store business. She is a hard-working, welcoming, and communicative woman.
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