Ononherlen B. is 29 years old and lives with her husband and 2-year-old son in the Hentiy province of Mongolia. She and her family live together in a "ger," a traditional Mongolian nomadic tent home. Her son attends a local kindergarten while her husband works as a police officer in the local police department and receives a monthly salary of 250,000 Mongolian tugriks (MNT).
Ononherlen owns a computer and copier service as well as stationary trading business and runs it in a rented office in her town. She started her business in 2008 by operating with only one computer; since then, she has found success over the years. Her working capital has reached 600,000 MNT and her total assets, including all her computers and equipment, are worth 10,000,000 MNT today.
In the future, she hopes to have her own workplace. She says, "I will use my business earnings to build a new workplace for the future."
She is requesting a 1,500,000 MNT loan to purchase more inventory such as paper and ink 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.