Nanjid is 52 years old and lives with her husband and two children in Hovd province, Mongolia. She and her family live together in a ger, the Mongolian nomadic tent. Her daughter, Uranchimeg, is 20 years old and lives with her husband and two children in Hovd province as well.
Nanjid operates a cafe with her husband. They prepare a variety of meals, including Mongolian traditional foods. They have been operating their cafe since 2004, and have two employees. Nanjid has been planning to expand her cafe in the future. She is a very hardworking and optimist person. She says, “My daughter will graduate soon. After she graduates I will open a restaurant with my family. Besides my business, I receive a pension from the government and my son is working and contributing to the family finances. Generally, our family's life is good.” She is requesting a 1,500,000 tugrug (~ 1072 USD) loan to purchase vegetables, flour and meat for her cafe.
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.