Dulmaa B. is a widow who lives with her 21-year-old son, her daughter-in-law and her grandchild in the Uvurhangai province of Mongolia. She and her family live together in their own ger, a traditional Mongolian nomadic tent.
Dulmaa receives a government retirement pension and her health is good. Dulmaa used to sell various kinds of products in the street, but has been operating a small grocery shop in her yard since 2001. She started a dairy-product retail business in her town at the local market in 2007.
She goes to Ulaanbaatar, the capital city of Mongolia, to sell her dairy products during the cold season. She travels through the countryside to collect and prepare her dairy products. She is planning to continue her business and wants to help pay for her grandchild's university education when the time comes.
Dulmaa is requesting a 4,000,000 Mongolian tugriks loan in order to purchase and preserve a large amount of dairy products now so that she can sell them for a larger profit in the winter.
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.