Uurtsaih is 30 years old and lives with her daughter in Tuv province, Mongolia. She and her daughter live together in a ger, the traditional Mongolian housing tent. Currently, she operates a secondhand product trading business at Tsaiz market, one of the most crowded markets in Mongolia. Uurtsaih sells secondhand products such as clothing and blankets at her counter, which is in a good location. She started her business in November 2009 with a working capital of 500,000 tugrugs (~ 352 USD), and she has steadily expanded her business. Presently, Uurtsaih's working capital exceeds 1,400,000 tugrugs (~ 985 USD). Originally, before she started her own business, she worked as a salesperson in a grocery store that belongs to a person named Munhjargal. Uurtsaih has gained much experience in previous years and she is a very hard working person. Uurtsaih says, “I would like to expand the production line and expand my business.” She is requesting a 2,000,000-tugrug loan to purchase a large amount of secondhand products at wholesale to resell them for a profit.
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.