Byambasuren has been producing copper souvenir at home since 2000 in Hovd province. She moved to Uvs province in 2011 and is now starting her copper souvenir business at home again. It is convenient for her to take care of her children and husband at home while she works at home. She is now requesting loan of 6,500,000 MNT to purchase an inventory to restart her own business of copper souvenir production at home. She is a well-experienced, hard-working and talkative person.
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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Success!! The loan was 100% repaid