Dulamsuren has been herding their livestock for years until late 2013, and has just started her own clothes retail store in a rental stall at the local market. Her husband is very supportive of her and her business. She needs extra investment to run her business smoothly and is now requesting loan of 5,000,000 MNT to purchase inventories to sell at her rental stall at the local market. She is a hardworking, responsible, and enthusiastic woman.
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!