Dariimaa G. is a 48-year-old single mother who lives with her two children in Darhan, a city in Mongolia. She and her two children live together in their own ger, a traditional Mongolian nomadic housing tent. Her youngest daughter currently attends a local primary school. Her husband passed away six years ago.
Dariimaa operates a vegetable trading business in a stall at the local market with the help of her son. She used to work as a technologist for the Floor Factory. She has been engaging in this trade for ten years and has gained significant experience. Her business earnings are the only source of her family's income. Dariimaa has been planning to expand her business in order to improve her family's quality of life. In the future she hopes to have her own field where she can plant and grow vegetables. She will use her future earnings to pay her daughter's tuition fees and to buy a new house for her son. She is a hardworking and very energetic person who dedicates her life to her children. She says, 'My dream is to raise my children to be well-educated people, so that they can live a decent life. My children will help to expand my business in the future.' She is requesting a 2,000,000 MNT loan to purchase a large amount of vegetables at wholesale price in order to sell them during the forthcoming 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.