Tsevegmid has been working as an assistant chef/chef for a number of cafeterias since 1998. She is now just starting her own cafeteria in the center of the province, where most of the population lives. Her husband supplies organic vegetables for her cafe; he stores organic vegetables in their storage pit and sells them during the winter and spring.
She is now requesting a loan of 2,000,000 MNT to purchase a large amount of seeds and soil to prepare next year's planting for her husband's agriculture business. The borrower and her husband are both hardworking and responsible people.
More information about this loan
This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.
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