Erdenechuluun P. is 38 years old and lives with her two children in an apartment in Hovd province, Mongolia. Both of her children attend a local school and her husband works and lives in Korea. Erdenechuluun operates a grocery trading business in her town. She sells a variety of food products out of her shop. She opened her grocery shop in 2005 after selling a variety of food products out of a container at the local market for several years.
Erdenechuluun is requesting a 3,000,000 MNT loan to purchase more grocery products to sell at her shop.
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.