Norjinsuren T. is a 32-years-old married woman. Her family lives in a "ger" (nomadic housing tent) district Ulaanbaatar, the capital city of Mongolia. She moved to the capital city from Gobi-Altay, one of the western provinces that is located more than 1,000 kilometers away from the capital. Her husband, Ganbat, works as a plumber for a privately held company.
As soon as she moved in, Norjinsuren started running a retail business, selling vegetables through a rental stall at the local food market. She purchases a variety of vegetables including potatoes, carrots and cabbages from the wholesale market and then resells them at retail prices to locals, mostly repeat buyers.
With this loan Norjinsuren is planning to purchase vegetables to increase her business inventory since she has bought a secondhand car for her business using her business income.
Norjinsuren seems quite a shy woman. She says that ''my husband and I are planning to have a baby in near future. Honestly I don't have a very big dream with my business. What I think in life is I want to have many children and grow them healthy and with no hunger.”
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.