Tuya D. is 30 years old and lives with her husband and three children in Uvs province, Mongolia. She lives with her family in a ger, a traditional Mongolian nomadic tent home. Both her daughters attend a local elementary school while her son has not yet reached school age. Tuya manages a raw materials trading business in their town with the help of her husband. They have been engaged in this business for seven years and have built a stable and successful operation. Over the years of business, they have managed to greatly improve their family's quality of life. Their earnings have enabled them to have their own assets such as fenced land, livestock, and a car and garage. Today, their working capital exceeds 2,000,000 MNT, including their livestock. Tuya is a very modest and communicative person and says, "We will try to sell our livestock at high price and improve our car." She is requesting a 3,000,000 MNT loan to purchase 100 pieces of livestock.
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.