Kulash A. is a 46-year-old widow who lives in a ger, a traditional Mongolian nomadic tent, with her three children in Bayan-Ulgiy Province of Mongolia. Her eldest son helps with his mother's business, while the younger two children are students. Kulash's husband passed away three years ago, and she has been trying her best to support her family.
Kulash began her consumer goods retailing business in 2004 and after a successful business operation she managed to start a billiards service out of the market in her town. A kind and creative woman planning to expand her business, she works hard every single day. Kulash is now requesting a 1,000,000 MNT loan to purchase more billiard tables 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.