Yumjir is 38 years old and lives with her husband and three children in Bayanhongor province, Mongolia. Two of her children, Uuganjargal and Tuvshinsaihan, ages 17 and 9, attend a local secondary school. Her youngest daughter, a four year-old, attends kindergarten. During the day, Yumjir operates a clothing and consumer goods trading business in her town. She purchases products in Ereen, a Chinese border town. Yumjir started her business in 1995, and has expanded her business over the past years. She has been planning to grow her business and product line even further. She is a very hardworking person who has a great business mind. She is requesting a 3,000,000 tugrug (~2195 USD) loan to increase her working capital.
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.