Manar is 46 years old and lives with her husband and six children in Bayan-Olgii province, Mongolia. She and her family live together in a traditional Mongolian nomadic housing tent called a ger. They have been living together in their current home for 10 years. Manar's husband has been operating a livestock trading business since 2005. Presently, Manar operates a bakery shop in her home province. She has been operating her business since 2009, when she received bakery equipment from a project of the World Vision International Organization. Manar's business has expanded and she has gained much experience as a businesswoman. She is focused on the future and says, “I would like to expand my business and to enlarge my bakery workshop in the future.” She is requesting a 1,500,000-tugrug loan to purchase materials such as flour for her bakery 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.