Her husband Otgon, age 57, helps his wife to run their family grocery store business. Her daughter Oyuntuya, age 34, works at a local company.
The borrower has been running a business selling clothes in a rental counter of a local market since 1998. She started her grocery store business near her home in 2011.
Otgonjargal is requesting a loan of 3,500,000 MNT to insulate and install vacuum windows in her store in order to reduce heat loss and stay warm during the winter and to also expand her clothing business along with her grocery store. She is a hardworking, positive, and enthusiastic 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