Tungalag D. is a 48-year-old single mother with two children. She lives with her 24-year-old daughter in Ovorhangai province, one of Mongolia's central provinces. Her son is a student in the Mongolian University of Science and Technology in Ulaanbaatar, the capital city of Mongolia. She has a small retail business in pharmaceutical and beauty products. She rents a small stall at the local market and sells her pharmaceutical and beauty products. Depending on monthly sale amounts, she frequently travels to Ulaanbaatar and purchases more inventory products 2–3 times a month. She usually buys her products from Ulaanbaatar's wholesale markets. She aims to continue supporting her son's university education. She pays his tuition and living expenses with the business profit. Since her retail business is the only source of income for her family, she works very hard to meet all the financial obligations for her family as well as his son's education. She requests a loan to purchase more pharmaceutical and beauty products 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.