Amarzaya D. is 39 years old and lives with her husband and 15 year old daughter in the Tuv province of Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent. Her daughter attends a local high school while Amarzaya and her husband operate the family business. They own a small car repair business which they began in 2004. They run a small tire and car repair and car washing center. The also sell parts, oil, tires and wheel components through their repair center. Their business has grown quickly over the years and their earnings have enabled them to purchase a building that can be used as a service center and living accommodation. They also plan to pay for their daughter's tuition fees with their earnings. In the future, they hope to expand their business and establish a larger car repair center.
Amarzaya is a very honest, modest and hardworking person. She is requesting an 1,800,000 MNT loan to purchase more lubricants and oils in wholesale quantities.
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.