Urjinsuren J. lives with her husband in Central province of Mongolia in a ger, a traditional Mongolian nomadic tent, and she operates a consumer goods retailing business with the help of her husband. Her husband is a plumber for the local Heating Station and is employed with a salary of 310,000 MNT per month.
She began her business in 2009 with working capital of 1,000,000 MNT. Since then, she has been working hard to operate her business and her working capital has grown to exceed 2,500,000 MNT.
She would like to grow her business in order to sell vegetable products as well and be able to save money for purchasing an apartment so that she can improve her quality of life. Urjinsuren is the kind of person who is hard working and modest.
She is requesting a 1,400,000 MNT loan in order to purchase a variety of food products at wholesale prices and to increase her working capital as well.
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.