Odonchimeg Y. is 29 years old and lives with her parents and brother in Ulaanbaatar, the capital city of Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent (also known as a "yurt").
Since 2006, she has been operating a computer and printer, as well as billiard services in the basement of an apartment building. After years of successful operation, her working capital has exceeded to 2,500,000 MNT, includes her business equipments and tools, and her daily average income is 40,000 MNT.
Odonchimeg hopes in the future to expand her business and have her own work place. She is requesting a 2,500,000 MNT loan to purchase necessary equipment for her service in order to increase her working capital.
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.