Shinebayr V., 45, is married and the mother of two sons. She and her family live together in a house which they own in Ulaanbaatar, the capital city of Mongolia.
Shinebayr earns her living by selling underwear, socks, and children's clothing at Narantuul, the biggest market in Mongolia. She has been operating her business with her husband since 2002, and they have gained valuable experience as traders. In the beginning they had only one counter. Over the past eight years they have expanded their business, and have purchased another counter. Today they operate their business successfully from both locations.
Shinebayr and her husband alternate purchasing their products. Shinebayr's oldest son is a college student and helps his parents' business during his spare time. Shinebayr's youngest son is 16 years old and attends a local secondary school. With her business earnings, Shinebayr purchased housebuilding materials, and the whole family now lives in the house she built.
Shinebayr is an industrious person. She says, “I would like to invest money for my childrens' education in the future.” She is requesting a 1,000,000 tugrug loan to purchase a new roof for her house and a personal computer for her family.
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.