Dolgorsuren D. is 55, married, and the mother of four. Her family lives in Arhanghay, one of the central provinces of Mongolia. Together with her husband, Togtohbayar, she runs a dairy food stall year round. They also run a butcher shop in the winter and spring at the local market. When they started their business in 2006, their working capital was two million tugrugs ($1.00 USD= 1,500 MNT). As a result of her hard work, Dolgorsuren's business capital has increased to 3.5 million tugrugs. She has also successfully paid for two of her children's tuition from the business profit. Part of Dolgorsuren's success stems from her open and respectful personality. She is requesting a loan to purchase more dairy products to increase her business inventory.
This 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.