Odongerel B. is 41 years old single mother who lives with her two children in the Baganuur, one of the remote district of Ulaanbaatar, Mongolia's capital city. She and her two children live together in an apartment. Her son, Tsolmongerel, is a studies at the Mongolian Science and Technology University while her daughter, Hulan, attends a local high school. Odongerel lets her own garage to others as a renting space where individuals rent and operate a car washing center and wheel repairing center. She has been providing rent service to others for past 6 years and has built s stable and successful operation. In the future, she plans to provide a service of lubricated oil replacement and to sell an accumulator. Her main goal is to provide for her children's education and to help them become a good and responsible person. For the future, she hopes to start her auto repair related business, and is requesting a 3,000,000 MNT loan to increase her working capital by 2,000,000 MNT and to pay her son's accomodation fees at 1,000,000 MNT.
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.