Oyun T., age 32, lives with her husband, daughter and father in the Narantuul district of Ulaanbaatar, the capital city of Mongolia. She and her family live in a ger, which is a traditional Mongolian housing tent. They have lived there for the past 5 years. Her husband has been employed as a polishing worker in at a geology lab for five years and her daughter is in middle school. Since 2007, Oyun has run a clothes trading business at the nearby Narantuul market, the largest market in the city. She rents a stall which she considers to be in a good location because of its close proximity to the food market. Over the past two years Oyun has made a lot of progress with her business. Currently her daily revenues average around 50,000 MNT and sometimes reach 150,000 on a good day. Oyun is a very easy going, hardworking and responsible woman. She is requesting a 3,000,000 MNT loan to purchase and import clothes from China to sell at her stall.
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.