Givaa B. is a 25-year-old single woman who lives with her parents in Uvurhangai province, Mongolia. She and her parents live in a ger, a traditional Mongolian nomadic tent. Givaa has been operating a cafe and computer service business since 2009 and relies on her parents’ previous experience of running a cafe. In the near future, she is planning to open a consumer goods business in a rented stall at the Baku trade center. She is planning to have her boyfriend be responsible for managing the cafe business while she operates her retail business. Givaa is a modest, optimistic, and hard working woman who really wants to expand her businesses. She is requesting a 2,500,000 MNT loan to purchase more food supplies for her cafe and buy a variety of consumer goods for her new 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.