Oyunchimeg is 40 years old and lives with her 20-year-old son in the Bayanhongor province of Mongolia. She and her family live in a ger, a traditional Mongolian nomadic tent. Her son attends university and her husband helps Oyunchimeg with the family business, a grocery retail business.
Oyunchimeg began her business in 1999 in a shipping container at a local market. Since then, she has managed and grown her business very well and was able to move from the shipping container into a grocery shop. She hopes to operate her business for a very long time and to keep growing it as much as possible.
Oyunchimeg is requesting a 2,000,000 tugrug loan in order to purchase a large amount of food products for her shop.
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.