Dondogjav T. is 41 years old and lives with her two sons in the Bayanzurkh district of Ulaanbaatar, the largest city and capital of Mongolia. She and her children live together in a ger, a traditional Mongolian tent, and both of her sons currently attend universities in the city. T. operates a meat trading business, which she started in 2001. She has gained much selling experience over the years and has built a a very positive reputation among her many customers. T. is a very hard worker and hopes to continue to grow her business in the future. She says, "With my business earnings I am trying hard to support both of my sons' educations so that they can make good lives for themselves." She is requesting a 4,000,000 Mongolian tugrug (or about $2800 US) loan to purchase more meat 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.