In 1999, Norjmaa began to run a meat-sales business at the local food market. She buys, butchers and sells four sheep a day. She earns between 250-1,000 MNT (0.17 cents-70 cents) per kilogram. Norjmaa's eldest daughter helps her business. Since she has no storage to freeze meat, she buys few animals during the summer but buys many sheep during the winter.
Norjmaa told us in Mongolian: "By running my retail business, I'm planning to enable my children to enroll in universities for their future career. I dream of having my own big supermarket!" (At the picture: Norjmaa is sitting at the left hand)
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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