Chimgee T. is 32 years old and lives with her husband and son in Hovd province, western Mongolia. She and her family have been living in their own house for three years. Her son goes to a local kindergarten, while her husband Ganchudur helps with her business.
Chimgee and her husband began their business in 2005 and now they are planning on expanding their business by adding more computers so that they can accommodate more customers. Chimgee is requesting a 4,000,000 MNT loan in order to purchase more computers for the PC game center.
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.