May S. is 41 years old and lives with her husband and five children in Bayan-Ulgii province, western Mongolia. She and her family live together in a 'ger', a traditional Mongolian nomadic tent. Her oldest daughter is a university student while her other four children all attend a local school. May operates a construction business specializing in interior and exterior decoration of buildings. Her husband helps her business by working as an assistant worker. They have done previously many decorations on big supermarkets and store houses. They have owned this business for almost 10 years and over this long time they have earned a good reputation among their customers because of the quality of their work and service. Their earnings have enabled them to provide for their family.
May is a very open-minded and a hard-working woman and says, “My only wish is to continue to run my business with stable operation so that I can establish my own construction company in the future.” She is requesting a 1,500,000 MNT loan in order to purchase necessary materials and tools for her construction 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.