Dulamjinhuu S. is 50 years old and lives with her husband and four children in Arhangai province in central Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic housing tent. Her elder three children are university students.
Dulamjinhuu operates a dairy production trading business in her town with the help of her husband. She and her family started a dairy production trading business in 1992 and have had success in growing their business. She began her business with the working capital of 150,000 MNT and since it has operated successfully for many years, she has been able to increase it up to 2,000,000 MNT. She has many plans for the future and said, “My only wish is to be able to support my children to be better people in the future”. Dulamjinhuu is requesting a 3,000,000 MNT loan to purchase dairy products for her retail business.
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.