Battsetseg used to cook traditional food and deliver it to local market retailers and small business owners during lunch time and early supper time for a few years. In 2012, she started her own business of a small cafeteria close to the local market where more of a crowd is located. She is well-known with her qualified and tasty food among her clients. She is now requesting loan of 2,000,000 MNT to purchase insulation material and vacuum windows to reduce heat loss and stay warm during the harsh Mongolian winter.
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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