Amaraa has been running her butcher shop business in the local market since 2005. She is well-known for her friendly service and tasty meat products. She is now involving her husband in her business. He is starting to be in charge of purchasing meat products from a bigger market where herders sell their livestock.
Amaraa is now requesting a loan of 5,000,000 MNT to purchase spare parts to repair her husband's car so he can use it for transporting her meat supply. Thus, he will be employed in her business. The Gombodorjs are a happy, hardworking and respected family.
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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