Munhzul Z., age 33, lives with her husband and two children in the Huvsgul province of Mongolia. She lives in a "ger," the traditional Mongolian nomadic housing tent, with her family. Both of her children attend a local school. Munhzul has been operating a second-hand products business since 2003, after running a grocery trade business for one year. Her husband helps out with her business.
Her earnings have enabled her to provide for her family. In the future, she hopes to have her own workplace. She is a very modest and hardworking woman and is requesting a 2,100,000 Mongolian tugriks loan to purchase more variety of second-hand goods at wholesale prices in order to increase her product line.
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.