Oyun-Erdene is 43 years old and lives with her husband and three children in Arkhangai province in central Mongolia. She and her family all live together in a ger, a traditional Mongolian nomadic tent.
Oyun-Erdene owns and operates a meat retail trading business in her town. She started her business in 1997 with working capital of 80,000 tugrug (~55 USD). With the support of her family, the business has since grown to exceed working capital of 1,400,000 tugrug (~980 USD).
Oyun- Erdene has gained considerable business knowledge and skills in the twelve years of operating her business and hopes to be able to be able to not only expand and own operating space for the business, but to pass her knowledge and skills on to her children. She is requesting a 2,000,000 tugrug loan in order to purchase more meat and supplies so that she may increase her sales.
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.