Mandahsuren B. is 38, married, and the mother of two: ages 11 and 13. Her family lives in a "ger" (traditional nomadic tent) district on the plot of land her family owns in Uvurhangay, one of the Mongolian central provinces. Both her children are attending an elementary school.
Mandahsuren started running a retail business in 2002. She used to sell bicycles and bike accessories outside a local market. In 2004, with her profit, she bought a little booth and started selling spare parts inside the market. In 2007 she bought another bigger booth to sell motorcycle spare parts. Her husband Dashhuu helps her run these businesses. Dashhuu goes to UlaanB., the capital city of Mongolia, once or twice every month to buy spare parts at the wholesale markets. Their regular customers are mostly herders who have motorcycles for their daily transportation needs.
Mandahsuren says that "with my profit I'm able to save money for my children's future university tuition." She requests a loan to buy spare parts for her business.
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.