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XacBank

New Oasis
New Oasis

D. Hureltogoo is an indigenous citizen of Arhangai aimag. After he lost his job when the construction power and heat plant where he worked failed in 2002, Hureltogoo and his wife A.Uranbileg set up the Shine Burd (New Oasis) Ltd. Company for the production of ger and ger furniture. Since then he has been gradually increasing revolving capital and expanding production capacity to meet market demand. Currently they produce wooden frames of plain and traditional pattern gers as well as smaller and lighter summer site gers and ger furniture. Their produce has good reputation with customers and is usually in high demand. The fact that last year he became the highest selling participant of a fair held in Umnugobi aimag speaks for the quality of his produce.

Hureltogoo’s XacBank client story begins in 2001 when he became one of the first XAC NBFI clients taking a $180 loan to supplement his operating capital to needed $450. From 2001 to now he has taken nine business loans to finance automated or electric carpentry equipment both stationary and handheld. In 2004, he used business profit funds supplemented by a XacBank loan to purchase the building he rented for this production.

He now employs four workers, some with disabilities. His employees have been with him for many years, have good experienced and he pays them well on a per product basis.

Although price on ger wooden frame and furniture is growing fast, Hureltogoo prefers to offer good quality product at reasonable price in order to beat competition. His business plan includes expansion of product variety through inclusion of modern furniture.

Hureltogoo has not only become a long time successful customer of XacBank but also a good partner and supplier to his own clients.

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