Since 1998, Tumur has been running a butcher shop at the local food market. She mainly sells mutton from a rented stall. On average she sells eight sheep per day. Her husband helps her business by buying animals from herders and dressing the carcasses to get ready for sale. She adds MNT 600.0 per kg ($1 = MNT 1600) to the wholesale price.
Normally in the countryside, meat prices increase in the summer and decrease during the winter. Tumur has a small storage unit to freeze meat, which she uses to store sheep bought when the price is cheaper than in summer. Her loan will be used to purchase more sheep.
Together with her husband, she plans to one day own the shop she operates from.
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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