Gantuya is 41 years-old and lives with her husband and two children in Har-Horin "soum" (an administrative district) of Uvurhangai province, Mongolia. She and her family live together in a ger, a Mongolian nomadic tent. They have been living together in their current home for 12 years. Her daughters, Altangerel and Narmandah, both attend university.
During the day, Gantuya operates a souvenir selling business with her husband in Harhorin soum where tourists travel a lot to see tourist attractions such as Erdenezuu monastery and Frog rock. She sells a variety of Mongolian souvenirs to her many customers and her profit is very high especially during the summer between June and October. However, her profits are not as high during the winter. With her business profits, she built a winter house for her family and she has been able to pay her children's tuition fees. Her family's quality of life is good.
Gantuya is a very hard working person who has strong selling and communication skills. She says, “I would like to open my own souvenir shop after my children graduate their universities. ” She is requesting a 2,000,000 tugrug (~ 1475 USD) loan to purchase more souvenirs to resell at 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.