Davaatseren J. is 39 years old and lives with her two children in Ulaanbaatar, the capital city of Mongolia. She and her family all live together in a house. Her husband works and lives in South Korea as a contracted worker. Her elder daughter attends a middle school while the youngest daughter goes to a kindergarten. Davaatseren operates a meat retail trading business in her town. She started her business in 2000 as a clothing retailer, but since 2005, she has been operating a food trading business and the business has since grown successfully. Davaatseren has gained considerable business knowledge and skills in her years of operating her business. She works hard to provide for their children and improve the quality of their lives with education. Davaatseren is requesting a 4,000,000 MNT loan in order to purchase more supplies for her food trading business to increase her sales.
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.