Adiya R. is 50 years old and lives with her husband and three daughters in the Uvurhangai province of Mongolia. The family has been living in a ger, a traditional Mongolian nomadic tent, in her own plot of land for the past five years. Her oldest daughter, who is 25, works as a teacher at the university while her youngest daughter attends a local secondary school. Adiya started to work as a construction decorator during the summer after working in a construction company from 1979 to 2005. The construction business is seasonal; therefore, she decided to operate a more sustainable business. She built a winter house in her yard and opened a small grocery shop in one of the rooms of her house. In the future, she hopes to continue successfully operating both her businesses. Her husband and middle daughter have been helping her to run the two businesses. She would like to expand her businesses even further in the future. Adiya is requesting a 2,200,000 MNT loan in order to purchase more products such as bread, pastries, cookies, candies and sweets, beverages and fruit for her grocery trading 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.