G. Azjargal is 22 years old and lives with her husband, infant son, and mother-in-law in Ulaanbaatar, the capital city of Mongolia. Azjargal currently operates a small electronic device and tools selling business out of a rented stall at Norjin, a busy trade plaza in the city. She started the business with her husband right after graduating high school Today, her mother-in-law also helps out by watching the baby for them when they are at work. There is nearly no competition in the area, which makes her stall very popular and allows her to move her goods quickly. Azjargal has found much success with her business, and her husband also drives a taxi to supplement their income. She is currently planning to open a second stall to expand her business, but that is not her ultimate dream. "I'd like to one day have my own electric appliances store", she says. Azjargal is requesting a 1,000,000 tugrug (~690 USD) loan to purchase a variety of electronic goods to sell at her stall.
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.