Nansalmaa S. is 37 years old and lives with her husband and three children in Hovd province in western Mongolia. She and her family live in a ger, a traditional Mongolian nomadic tent. All three of her daughters attend a local secondary school.
Her husband operates a transportation business, using his small track, to support the family. Nansalmaa operates a firewood selling business at a local market in her town. She started her business at a local coal and firewood market in 2005. She purchases her firewood and coal once a month. Sometimes, she rents a truck to transport her firewood in order to sell it. Her business covers most of her family's expenses. She currently rents a stall at a local market to sell her products.
In the future, she is planning to expand her firewood trading business by renting more stalls at that market. She is a friendly and hard-working person who says "I plan to rent more stalls at a local market in order to increase my sales." Nansalmaa is requesting a 2,000,000 Mongolian tugrug (MNT) loan to purchase more wood and coal at wholesale prices when the price of coal is cheap.
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.