Batnasan has been working as saleswoman in the local market for years and has a lot of experience. She basically runs the business and, when she is able to afford to open a grocery store of her own, she will be starting her own business. She is now requesting loan of 5,000,000 MNT to purchase animal pelts and other inventory to let her husband start his own business. She is hardworking, caring and very supportive of her husband.
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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