Lhagvajav S., age 54, lives with her husband, who is retired, and a son. She has been operating a meat trading business since 1998 and has gained much experience in this field. Her health is not good; she had a medical treatment last winter. Her husband ran the business while she was out. Her son is involved with inter provincial transportation.
Lhagvajav is clever and creative. She is requesting a 3,000,000 tugrik loan to purchase livestock from the sub-provinces.
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.