Davaajav is 23 years old and lives in a house in Arkhangai province of Mongolia. She was able to build her own home because of the success she has achieved by running her consumer goods trading business. She started her business in 2006 with working capital of 320,000 tugrug (~220 USD) which has increased to 1,500,000 tugrug (~1050 USD) since. The increased profits are due to her good business skills and good customer service. She has cultivated very good relationships with both her customers and suppliers and believes that these relationships are the key to her success. Davaajav would like to expand her product offerings and is therefore requesting a 1,500,000 tugrug (~1050 USD) loan in order to buy a greater variety of products in which to sell.
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.