Ankhtuya is 35 years-old and lives with her husband and 13 year-old daughter in Arkhangai province in central Mongolia. Her daughter currently attends a local secondary school and her husband works as a driver. Ankhtuya has a small dairy product trading business that she operates out of a rented stall at the local market in her town. She obtains her products by traveling to the countryside and buying from local herders. Ankhtuya started her dairy product trading business in 1996 with an investment of 50,000 tugrugs (~34 USD). Due to her hard work, friendly nature and good customer service, the business has been growing steadily and she has established a good reputation in her community. Today, her working capital exceeds 300,000 tugrugs (~200 USD). Ankhtuya hopes to use future profits from the business to save for her daughter's education. She is requesting a 500,000 tugrug (~340 USD) loan to purchase more supplies for her dairy trade 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.