Hashhuu has been enthusiastic and hardworking since he was a young child. He started working while attending university. He has a few years of experience working at a popular chain restaurant and gained experience and skills running a small cafeteria. He has found a place to open his small fast food stall. It is close to schools and other public organizations and there are no potential competitors nearby.
Hashhuu has written a business plan for his fast food business and was granted technical support from Development Solutions local NGO which now pilots the "Youth Business Mongolia" project to support young entrepreneurs' ideas. His fast food stall would provide organic products including traditional food, dairy products, and drinks.
He is requests 8,000,000 MNT to invest in his idea to start a fast food business.
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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This loan has been fully funded!