Altantuya S. is 30 years old and lives with her husband and three children in a rented house in Tuv province in central Mongolia. Her older son attends a local secondary school. Her youngest daughter is at home.
Her husband has a small truck and he carries people's loads, using his truck to support his family. From 1999 to 2006, the family lived in the countryside as a nomadic lifestyle. Since 2006, after moving from the countryside to the central city of Tuv province, they brought their milking cows to sell milk and yogurts. She has many permanent customers.
She is a very generous and open-minded person. She says, "I plan to increase the number of cows and establish a cow farming." She is requesting a 2,500,000 Mongolian tugriks (MNT) loan to purchase two cows at 1,500,000 MNT as well as 1,000,000 MNT for fodder for her livestock.
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.