Together with her husband, she started a business in 2000, running a fruit stall at the Narantuul ("black market"), the biggest year-round outdoor market in Mongolia. She sells fruit at all times except winter. During the winter months, she sells frozen fruits, such as cranberries, and many types of jellies. Her husband buys a variety of fruits wholesale.
When she started her retail business, her family lived on someone else's plot of land, renting it for MNT 15,000 ($10). As a result of her retail business profits, she was able to buy a plot of land and her husband has built a little house on it. They are a hard-working, friendly and nice couple. With this loan, Altantuya will buy more fruit.
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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