Davaasuren E. is 34 years old and lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. She lives together with her family in a ger, a traditional Mongolian housing tent. Her son currently attends a local secondary school and her daughter is in kindergarten. Her husband works as a driver in the city.
E. operates a sausage and egg trading business out of a rented stall at a local market. She started her business in 2006 after working for five years at a private company as a quality control officer. She enjoys her work, but says, "It is difficult to work in a place where you smell sausage all of the time.”
For the future, E. hopes to expand her business by offering a wider variety of products and by renting a second stall at the market. Her business is very important to her and her family, and she works very hard to improve their quality of life. She dreams of one day being able to build a house.
E. is requesting a 1,000,000 tugrug loan to purchase more consumer products in order to expand her product line.
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.