Odgerel has been working as saleswoman in a local market for years and has obtained lot of experience and built close relationships with her clients and suppliers. She is now starting her own clothing retail business in the local market and requesting 2,000,000 MNT to import a variety of clothing from China to sell at her rental stall. She is a hardworking, modest and open-minded woman who hopes to expand her business in the future and have her daughter grow up with a good education.
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