Jambalnyambuu T. is 52 years old and lives with her husband and two children in Arhangai province, Mongolia. She and her family live together in a ger, the Mongolian nomadic tent.
Her husband, Bayrsaihan, operates a transportation business in their town. They have been living together in their current home for 10 years.
Jambalnyambuu operates a vegetable trading business in town. She has been operating this business since 1998, and has steadily expanded. She rents a counter at a local trading center. She has gained significant experience over the past 12 years. She started her business with a working capital of 60,000 MNT. However, with a lot hard work and determination, she has managed to increase her working capital to 1,600,000 MNT.
With her business profits, she has been saving money to build a house for her family. Jambalnyambuu is an open and very hardworking person. She says, “I would like to expand my business. My dream is one day to create my own workplace. ” She is requesting a 2,000,000 MNT loan to purchase more vegetables to resell to her many customers.
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.