Yanjinlham N. is 61 years old. She lives with her husband, son, daughter-in-law and grandchild in their own house and yard in Ulaanbaatar, the capital city of Mongolia.
Yanjinlham operates a vegetable business to support her family. She sells a variety of vegetables out of a rented stall at the Han Talst trade center. She has been engaging in this trade for past eight years and has gained significant experience. After many years of running this business, she has gained many permanent customers. She has been planning to expand her business and to start renting one more stall where she will sell a variety of dairy products to supplement her earnings. Her daughter-in-law helps with her business by working as a salesperson in the stall.
Yanjinlham is a hardworking businesswoman and says, "I want to have a work place for my children".
She is requesting a 1,600,000 MNT loan in order to increase her working capital for her business.
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.