Oyunhuu S. is 52 years old and lives with her husband and three children in Hovd province, Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent. Her oldest son currently works, her middle daughter is a university student, while her youngest daughter attends a local high school.
Oyunhuu and her husband operate a welding service business in their town. They started their business in 2006 after operating a cafe in the local market for several years.
Oyunhuu is a modest woman and says, " We try to work hard to provide a good and decent life for our children". She is requesting a 800,000 MNT loan to purchase welding equipment and other necessary tools and materials 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.