Mungunzul G. is 20 years old. She got married in August 2009 and lives with her husband in a traditional Mongolian housing tent, called a ger, neighboring her mother's home. Their life condition is good and their furniture is quite new, because the couple just got married. The husband works as a porter at Narantuul market, loading and hauling luggage and goods. He earns 200,000 MNT wage per month. They have not planned to have a baby yet. Her mother, G., has been running a shoe sales business for a long time and purchased a stall at the market for her daughter, Mungunzul. Mungunzul has not got much business experience yet, so she asks help from her mother. This time Mungunzul is trying to go to Erlian, a Chinese border city and trading center, to purchase products herself in order to gain experience and run her business independently. Mungunzul is a very modest girl. She is requesting a 1,000,000 MNT loan to purchase kids' sports shoes and summer shoes.
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.