Oyun M., 49, lives with her son and daughter-in-law in Ulaanbaatar, the capital city of Mongolia. She and her family live together in a ger, the Mongolian nomadic tent.
Oyun operates a small products trade business at Narantuul, the biggest market in Ulaanbaatar, the capital city of Mongolia. She mostly sells purses, slippers and other small products. Oyun has been operating her business since 2000 and she has been successful in operating her business. After years of successful operations she managed to increase her working capital to a level exceeding 2,000,000 MNT. Her average daily revenue is a minimum of 50,000 and maximum of 200,000.
Her 25-year-old son, Batbayr, operates a transportation business. He plans to provide his service to tourists with the experience that he has gained in previous years.
Oyun provided money to build a house for her son with her year 2009's profit. Oyun is a very hardworking person. She plans to finish the house quickly and live there with her family. She is requesting a 3,000,000 MNT loan to purchase a variety of bags in anticipation of graduation ceremonies when the demand for her products is very high. In addition, she will use some of the loan money to make the rest of the payments for the family's car.
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.