Dechmaa D. is a 61-year-old single mother with four children. Three of her children live on their own. She and her daughter and granddaughter live together in a ger, a traditional Mongolian nomadic housing tent, in the Baganuur, one of the remote districts of Ulaanbaatar, the capital city of Mongolia. Her daughter works as a teacher in the school and her granddaughter attends a secondary school. Dechmaa operates a dairy products business in the local community. She started her business in 1996 operating a small shop where she sold a variety of foodstuffs and dairy products. After she closed her shop, she decorated an extra room of apartment where she started to operate her dairy trading business. Over the years, she has built a stable operation and has made much progress with her business. Dechmaa says, "All I want is to provide good education for my grandchild." Her daughter purchased a grocery store and she will open a stall to sell her dairy products in order to increase her working capital. That is why she is requesting a 600,000 MNT loan.
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.