Oyundelger B. is a 36-year-old married woman who lives with her husband and three children in Hentiy province, central Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent. Her oldest two daughters, aged 21 and 19, both attend a different university while her youngest son studies at a local high school. Her husband operates a taxi service for locals to supplement the family's income.
Oyundelger operates a meat trading business in her town by herself. She purchases a variety of meats from the local market and sells the products in Huchit Shonhor market, one of the largest markets in Ulaanbaatar, the capital city of Mongolia. She has monthly sales of approximately 2,750,000 MNT. Her husband earns between 15,000 and 25,000 MNT per day from his taxi business. Oyundelger's business currently operates at a stable level and she continues to make progress. The operating cost of her business is around 9,000 MNT and her monthly net profit reaches 490,000 MNT. In addition, she owns three houses which she lets out, for which she receives an extra income of 100,000 MNT per month from each house in rent.
Oyundelger hopes to grow her business in the future and continue her success. She says, "All I want is to provide a higher education for my children." Oyundelger is requesting a 2,500,000 MNT loan. She will use 1,800,000 MNT to purchase more meat in order to increase her sales, and the rest to remodel her house.
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.