Norovsuren T. lives with her teenage daughter in Uvurhangai province, Mongolia. She and her daughter live in a 'ger', a traditional Mongolian nomadic tent. Her daughter attends a local high school. Her husband passed away so she is a widow.
Norovsuren operates a business selling veterinary medicines and eye-glasses in her town. She started her business in 1995 by selling a variety of veterinary medicines and men's & women's clothes in a rented stall at her local market. Since then, she keeps running her pharmacy for livestock with a stable operation.
Norovsuren also sells eye-glasses in addition to her business. She purchases her inventory for both businesses 1-2 times a month, depending on her inventory or sales. Over the years, she has gained much experience and built a positive reputation for her business in the community. She says, "In the future, I want to expand my business and also to provide for my daughter's education". She is requesting a 2,500,000 MNT loan to purchase more veterinary medicines and eye-glasses at wholesale prices from Ulaanbaatar, the capital city of Mongolia.
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.