Her two younger brothers and a younger sister are local public school students, and the youngest brother goes to a local kindergarten.
Erdenetsetseg is the oldest of the children, and started working at a grocery store in 2011. She is hardworking, and a fast learner who has just started her own grocery store based on her experience in working at a grocery store as a saleswoman. Her parents are very helpful and supporting of her business and herself.
She is now requesting 5,000,000 MNT to purchase a starting inventory from Ulaanbaatar city for her store, to increase the variety of products.
She is planning on expanding her business in the future, and taking care of her 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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This loan has been fully funded!