T. Dulamsuren is 58 years old and lives in Zavkhan Province in western Mongolia. All of her children are now fully grown and live on their own, and her husband recently passed away. She lives in a ger, which is a traditional Mongolian nomadic tent. Dulamsuren has managed a small grocery shop in her town since 2001. She is an accountant by trade and has used her business knowledge to build a consistent operation over the years. Dulamsuren enjoys her work and hopes to continue her success in the future. She says, “I am working hard in order to achieve my dreams.” She is requesting a 2,500,000 tugrug loan to purchase grocery items 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.