Nyamsuren L. is 49 years old and lives with her husband and three children in the Uvurhangai province in central Mongolia. She lives with her family in a "ger," a traditional Mongolian nomadic tent home. Her oldest two children are students in Ulaanbaatar, a capital city of Mongolia.
Nyamsuren operates a small cafe named "Dulguun" in her town. Her cafe specializes in making a variety of traditional Mongolian meals and is a popular dining establishment in her community. She started her cooking business in 1996 with help of her sibling by selling homemade meals in a local market and they have built a successful business over the years.
They used their earnings to buy a small pavilion that they use as a cafe today. Her cafe is located in a crowded place at the local market that attracts a lot of customers.
Nyamsuren is a very diligent and modest woman. She is requesting a 600,000 Mongolian tugriks loan to purchase necessary equipment and tools and to renovate her cafe.
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.