Urtnasan L. is 43 years old and lives with her husband and four children in Harhorin, the ancient city of Mongolian empire, in Uvurhangai province of Mongolia. The family all lives together in a ger, a traditional Mongolian nomadic tent. Her oldest son, age 21, works as an electrician in the local museum and her two children, ages 19 and 17, both attend university, while her youngest daughter attends a local secondary school.
Her husband works as a watchman in the Harhorin company and Urtnasan operates a mobile dairy trading business which purchases the dairy products from herders at wholesale price and resells at the local market for profit. She started this business in 1998 and has gained much experience as a trader. Urtnasan is a very modest and hardworking woman and says, "I work hard to provide a good education for my children. My wish is that my children could obtain good occupations for the future." Urtnasan is requesting a 800,000 MNT loan to purchase more dairy supplies in order to increase her sales.
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.