Chimed-Ochir started his organic flour retail business in the rental booth of a local market with the help of his wife in 2007. He increased his variety of products, and now he sells flour, bran (as forage for livestock), rice and sugar in his booth. His older daughter is soon to be a university student, and he and his wife are starting to save for their daughter's further education.
He is now requesting a loan of 3,000,000 MNT to purchase a large amount of organic flour to sell to local residents. He is a hardworking, thoughtful and responsible man.
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