Since 2007 she has been running a food stall business with her own stall and employing one saleswoman. She buys candy, biscuits, cookies, chocolates, dried fruits, etc. from wholesalers and re-sells them. Her business income from the food stall is her family’s main source of income.
Pagmatsogsmaa has said in Mongolian: "I have a dream to have my own supermarket in the future". With the Lunar New Year celebration approaching, small items have sold quickly; therefore, she wants a loan to buy more food products for her food stall.
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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Success!! The loan was 100% repaid