Adiya J. is a 64-year-old widow and lives with her 39-year-old daughter in a ger, the Mongolian traditional nomadic housing tent, in Ulaanbaatar, the capital city of Mongolia. She has been operating a handmade shoes trade business in Narantuul Trade market in the city since 2003. She sells various kinds of children's boots as well as bootikin that she makes by hand.
Adiya is a well calculated and responsible person and says, "I plan to buy a large amount of raw materials in order to increase production as well as business profits." She is requesting a 700,000 MNT loan to buy raw materials in order to produce children's and men's traditional boots for the upcoming 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.