Dolgorsuren D. is 50 years old and lives in Arhangai, western Mongolia. She lives in a 'ger', a traditional Mongolian nomadic tent. Dolgorsuren operates a pharmacy business in her town. She used to work as a nurse and has found out that the pharmacy business is a familiar one to her. Her working capital now exceeds 3,500,000 MNT and with the business profits, she hopes to enlarge her operation.
Dolgorsuren is requesting a 3,500,000 MNT loan in order to purchase more supplements and a variety of drugs for her 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.