Gonchigsuren G. is a 43 year old single mother who lives with her father and two children in Khar-khorin, the capital city of the ancient Mongolian empire. Her father is retired, and her two sons are both high school students. She lives with her family in a ger, a traditional Mongolian housing tent. G. currently operates a meat trading business. She purchases meat and other animal products in bulk from herders in the countryside and transports it to Ulaanbaatar, the largest city and capital of Mongolia, where she sells it. G. started her meat trading business in 1995 by selling out of a rented stall at the market in her town. She operated there for 10 years before suffering a major injury that kept her from work for two years. In 2008, using the knowledge, experience and good supplier relationships she had built before her injury, she began transporting meat to UB. G. is requesting a 1,600,000 tugrug (~1120 USD) loan to purchase more meat and meat products for 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.