Munhtuul A. lives with her daughter and parents in Bayanzurh district of Ulaanbaatar, the capital city of Mongolia. They live together in a ger, a traditional Mongolian nomadic tent. Her parents are retired and her only daughter attends the 87th secondary school of Bayanzurh district in their town. Munhtuul operates a snuff bottle retailing business at Naraantuul, the biggest and most crowded market in Ulaanbaatar city. She began her business in 2000 and since then she has gained many skills and much experience in her operation. Munhtuul purchases snuff bottles in bulk in Ereen, the border city of Mongolia, once a month. The products she imports are the various stones with snuff bottle shapes. She assembles and makes the head of the snuff bottle herself by hand, which has to be matched to its main body. Munhtuul manages her assembly process in her small crafts shop. The most profitable season for her business is during Mongolian Traditional Lunar New Year and most of her purchasers and clients are the people who arrive from the countryside. Munhtuul is a creative and skilled woman who works hard to afford her daughter's education expenses and wishes her daughter to enter a university and obtain a good education. In the near future, Munhtuul hopes to create a new workplace and begin crafting a wider variety of jewelry products. As the busy fall season is underway in Mongolia, Munhtuul needs to purchase more raw materials to produce snuff bottles. She is requesting a 1,340,000 MNT loan in order to increase her working capital 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.