Galiya L. is 45 years old and lives with her husband and daughter in an apartment in Ulaanbaatar, the capital city of Mongolia. Her 7-year-old daughter currently attends a local primary school, and her husband works for the Water Piping Facility Board.
Galiya operates a vegetable business in the city. She has been engaging in this trade for sixteen years and has gained significant experience. She purchases her vegetables from wholesale traders and sells them from a rented stall as a retailer.
Galiya has been planning to expand her business in order to improve her family's quality of life. She is a hardworking and very energetic person. She says, “My dream is to finish my own house and live in it with my family.” She is requesting a 3,500,000 MNT loan to purchase more vegetables for her business and will use the remaining part to complete construction of her home.
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.