Munhzul T., 24 years old, runs a bakery shop at a local market called Bayangol. She has been operating her business since 2005, and has built a loyal customer base. Her husband, Batsaihan, helps at his wife's business, except during summer when he manufactures blocks to sell. They own their own house and live with their two children in Ulaanbaatar, the capital city of Mongolia. Their two-year-old daughter attends a local kindergarten.
With her earnings, Munhzul was able to purchase a car for her family. She has been using it to transport her products as well as using it for her family's transportation needs.
Munhzul is an industrious person and has many plans for the future. She and her husband have been planning to expand their product line at the shop in order to sell ham and eggs at an additional counter. She would also eventually like to support her husband in an effort to create his own block manufacturing workshop.
Munhzul is requesting a 1,000,000 tugrug loan to purchase more baked goods and cakes for resale at 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.