Altantuya S. is 44 years old and lives with her husband and two daughters in Ulaanbaatar, a capital city of Mongolia. She and her family all live together in a ger, a traditional Mongolian nomadic tent. Her oldest daughter is university student and her youngest daughter attends a high school. Three years ago, she divorced from her previous husband, who is the father of her two daughters. Her current husband is a carpenter and they have been living together since 2009.
Altantuya and her husband run a furniture making business. Among the products that they produce are picture frames, kitchen furniture, tables and chairs. They purchase their materials and the supplies that are needed for production from Tsaiz market, one of the main raw material markets in the city. Her husband is responsible for the production with help of one assistant.
She started her business in 2000 and has since gained significant experience. They hire a car, which is costly, to transport their products to the Narantuul market where they sell them. Because of the expense, she would like to purchase a car for their business. She is requesting a 2,000,000 MNT loan to purchase a car in order to transport their products.
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.