Altantuul N. is 39 years old and lives with her husband and three children in a ger, a traditional Mongolian nomadic home tent, in Ulaanbaatar, the capital city of Mongolia. Her son currently attends a construction college and her younger daughter is in kindergarten.
Altantuul operates a vegetable business to support her family. She sells a variety of vegetables in Narantuul, the main market in the city. She has been engaged in this trade for 11 years and has gained significant experience and many regular customers.
She has been planning to expand her business and have her own work place. Altantuul is requesting a 2500000 MNT loan to purchase and preserve a large amount of vegetables when prices for such produce are cheap.
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.