Oyundelger G. is 36 years old and lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. She and her family live together in their own ger, a traditional Mongolian nomadic housing tent. Her daughter attends university while her older son studies at the secondary school and her younger son attends a local kindergarten. Her husband works at Javhlant Bogd Co. Ltd. Oyundelger operates a leather goods manufacturing business. She has been engaged in this business since 1996 and since then, she has managed to expand her business by producing more types of products. Today, she produces a variety of products including leather gloves, key rings and holders, and slippers. She has been successful over the years and has built a stable operation. Oyundelger is hopeful for the future and is looking to expand the business. She is a responsible and hardworking person. She is requesting a 3,000,000 MNT loan to purchase leather materials and sewing machines for her business.
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.