Ariunaa is 48 years old and lives with her husband and three children in Arhangai province, Mongolia. Her two oldest sons, aged 22 and 20, are university students. Her daughter, Davaahuu, attends a local secondary school. Ariunaa's family has been living in their current home for 20 years. Ariunaa and her husband operate a clothing trading business from a rented counter at a local wholesaling trading center. She started her business in 2005 with a working capital of 600,000 MNT. In only five years Ariunaa has managed to increase her working capital to 1,200,000 MNT.
Since she started operating her business, her family's living condition has improved. Ariunaa has been providing money towards the family expenses and can afford to pay for her children's education fees. She is an open person who has great communication skills. Ariunaa says, “My dream is one day to create my own workplace.” She is requesting a 1,600,000 MNT loan to expand her selection and to purchase more inventory for her business.
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.