Myagmarsuren S. is 38 years old and lives with her husband and three children in Huvsgul province of Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic housing tent. Her oldest daughter is a university student while her two children attend local secondary school. Myagmarsuren operates a household's good retail business with the help of her husband. She sells a variety of household's consumer goods while her husband helps her to repair an electric products for sale. Myagmarsuren started her business in 2008 selling a stationaries at the local market. After finding success and achieving stable business operations within short period, she expanded her product line to include a variety of household's consumer goods. Her earnings have enabled her to pay her daughter's tuition fees. Myagmarsuren is a hardworking and modest woman. She is requesting a 2,000,000 MNT loan to purchase more variety of stationaries and households's products in order to increase her product line for her retail 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.