L. Dolgor is 46 years old and lives with her husband and five children in a wooden house in the Arkhangai province of central Mongolia. Her two oldest children, 21 and 19, both attend college. The rest of the children attend a local high school. Dolgor and her husband run a dairy retail business in a rented stand in the local market. They began this business in 1998 and through the years, they have learned how to be successful in their field. When the business first started, their working capital was 40,000 tugrugs. However, after 12 years of hard work, their working capital has grown to 3,600,000 tugrugs. Because of the success of the business, Dolgor has been able to renovate her home and purchase an automobile to add to the comfort of her family. She says, "I couldn't find a job during the country's market transition, so we started this business. As a result, my family is living well and I'm satisfied." Dolgor is requesting a 3,500,000-tugrug loan to purchase different wholesale dairy products that she can sell for a profit at her stand.
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.