Orolmaa D. is 36 years old and lives with her husband and one son in Ulaanbaatar, the capital city of Mongolia. Her husband currently works as a driver in a private company in Ulaanbaatar. Her son attends a district middle school.
Orolmaa lives in a 'ger', which is a traditional Mongolian housing tent with her family. She operates a meat sales business in Bayanzurh, one of the biggest and most crowded markets located in the Bayanzurh district of Ulaanbaatar, and provides a variety of meats for her customers. She started her meat sales business in 2000 and has gained much business experience over the years.
Today she has a very loyal customer base, and her working capital exceeds 3,000,000 MNT with the daily revenues of 150,000 to 300,000 MNT. For the future, Orolmaa is planning to expand her business, and hopes to one day own her own workspace. She is requesting a 4,000,000 MNT loan in order to increase her working capital so as to purchase more meat.
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.