Oyunbileg L., 31, is married and the mother of two children. Her oldest daughter, Enhchimeg, is 13 years-old and attends a local primary school. Her youngest daughter is two years-old and stays at home.
Oyunbileg operates an offal (meat) trade business with her husband at Huchit Shonhor, the biggest food market in Ulaanbaatar, the capital city of Mongolia. They have been operating their business since 2000, and they have great experience from the last 10 years. Oyunbileg purchases her products daily because offal is made fresh daily. With her earnings, she purchased a car for her family. In addition, with last year's profit and loan money, she was able to finish building a house with her husband's siblings help.
Oyunbileg is a very hardworking and responsible person. She says, “I have been planning to own my own grocery store because there are not any grocery stores around here. Therefore, we expect to earn great profits from this business.” She is requesting a 3,000,000 MNT loan to build a grocery store.
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.