Enhtuya has been running a grocery store business since 2013. She has just started running the food store in front of her Ger on the plot of land. Her husband built a small store place to run the business in 2013. Her husband has just purchased tire repair machinery and some equipment to run his business. Now she is requesting 5,000,000 MNT to make small repairs to her store and help her husband build a tire service place. Enhtuya and her husband are hardworking and diligent 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!