Odonchimeg D. is 44 years old and lives with her husband and three children in a ger, a traditional Mongolian nomadic housing tent, in the Songinohairhan district of Ulaanbaatar, Mongolia. Her oldest son and daughter both attend university and her youngest son attends a local high school. Her husband works as a driver in the Erel company. She opened a small shop in 2004 and has since expanded it by selling more variety of grocery products. After years of successful operation, Odonchimeg hopes to establish a supermarket. Her earnings have enabled her to provide for her family. She is a very hard-working person who wants to keep growing her business. She says, "I want to make my business a stable operation and build a house with three floors for my family." She is requesting a 3,000,000 MNT loan to buy more products for her shop.
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.