Gombojav has been working at local company with his wife for over 11 years and has a lot of experience. He recently purchased his very first at home machine and started manufacturing traditional shoes and boots by client's orders. He is now planning to purchase an extra machine for his wife to increase their productivity while they are still employed by the local company. He is now requesting a loan of 3,050,000 MNT to purchase shoe sewing equipment to his wife and increase their family income. He is well-experienced, open-minded and hardworking man.
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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