Marziya K. is a 46-year-old who lives with her husband and three children in a ger, a traditional Mongolian nomadic tent, in Bayan-Ulgii province in western Mongolia. She and her family have been living in their current address for past twenty years. Her youngest daughter attends a local secondary school. Her husband is currently unemployed but, during summer time, he runs a construction business to support his family. Her older son works as a furniture maker in Kazakhstan.
Marziya operates a small cafe in her town. She started her cafe business at a local market in 2005 and has since built a stable and successful operation though her cafe is not decorated nicely.
Marziya is a very hardworking and honest person. She is very hopeful for the future and says, "I want to save money for my children's further education." She is requesting a 1,000,000 MNT loan to use for her older son's wedding.
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.