Densmaa is a 50 year old woman who lives with her husband and son in the Arkahngai province of Mongolia. Her son attends university and her husband helps her with her business. Densmaa works hard to ensure the happiness of her only child and family. She started her food trading business in 1995 in a small shop. At that time, the working capital was 80 000 tugrug (~56 USD). Today, the working capital has reached 600 000 tugrug (~420 USD) . As her business has grown, she has earned enough money to buy a new house for her family. She says "Having our own home is very nice and our life becoming happier than ever". She is requesting a 1 000 000 tugrug (~700 USD) loan to purchase more products in order to expand 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.