She used to run an organic dairy milk production business in 2010 with her husband and children. She has got 10 cows and her own farm. She has surrendered her farm to her children, and began renting a food store business in October, 2013.
She sells her organic milk to grocery stores and a milk factory at wholesale prices in the summer.
She has a dream of expanding her business; she is a hardworking, enthusiastic and friendly woman.
The total amount she is requesting is 5,000,000 MNT to purchase supplies for the grocery store.
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!