She has been running a clothing sales business since 2011. She rents a sales counter in the province Trade Center and provides clothing at retail to local residents. She is selling all season clothing and she imports the clothing from Erlian, China. Her husband is working for a local company. She is now requesting 8,500,000 MNT to purchase affordable and fashionable summer clothing to sell at her counter and let her husband make his wooden craft production a business. They are happy and hardworking people.
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!