Saranhuu started her very first business, a grocery store, in a small rental booth in 2006. She has gained a lot of experience in running a small business and now she runs a bakery business with her husband. She has been able to build a small house for family use and to educate their two children using her business profits. She purchases her inventory from local markets and uses rental transportation.
Saranhuu is now requesting 8,000,000 MNT to purchase an eco-friendly electric and hybrid car to use for transportation for her business. She is a well-behaved, hardworking, and responsible woman.
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