Urantuya D. is 43-year-old widow who lives in Hovd province, western Mongolia with her two children in their own house. Urantuya is a dentist who operates a dental clinic in her town. She serves local people with all types of dentistry as well as making artificial teeth. One artificial tooth costs from 15,000 to 18,000 MNT on average. As an experienced and skilled dentist, she has established a wide customer base and her services are well known among the local citizens. Urantuya is requesting a 2,000,000 MNT loan in order to expand her dental clinic.
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.