Ariuntungalag B. is a 37 years old and lives with her husband and teenage daughter in an apartment in Gobisumer, Mongolia. Her daughter attends a local high school and her husband is currently unemployed after working as a railroader in the railway station of Choir.
Ariuntungalag operates a cafe named "Ih Sansar" in her town. Ariuntungalag started her business in 2006 with the help of her sister, and since then has built a stable operation and has gained much experience as well. After years of successful operations, she has been saving money in order to purchase a car for her family. Moreover, she is now thinking about expanding further and plans to open a grocery shop which will be managed by her sister to have her own workplace. Ariuntungalag is a very honest, resolute and hardworking woman and is requesting a 1,000,000 MNT loan to purchase necessary equipment such as a refrigerator, freezer, etc., to start her grocery shop in order to expand 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.