Buyan-Orshih is 54 and lives with her husband in their own house in Selenge province, Mongolia. She has two grown children who live on their own. Her daughter works in Ulaanbaatar as a company legal advisor and her son is an assistant engine driver in the train station. Buyan-Orshih operates a retail clothing business. She started it in 1996 and has since gained much experience. She has found success in her trade and has used her earnings to support her family. Her earnings have enabled her to not only pay her children's tuition fees but also purchase an apartment in Ulaanbaatar for her daughter. In order to increase turnover, she sells her products at under-market prices. In the future she hopes to continue her success and grow her business and support their children. She is requesting a 2,500,000 MNT loan to add to her savings of 1,200,000 MNT to purchase a car.
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.