Dolgorsuren B. is 47 years old and lives with her husband and two children in Hovd province of Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent. Her middle son is university student and youngest daughter attends a local secondary school.
Dolgorsuren operates a vegetable business in her town with help of her husband. They plant and grow vegetables and sell to customers through the local grocery market in their town. They have been engaged this business since 2004 and have built a stable operation.
After several years of successful business activity, she used her earnings to pay tuition fees of her sons. Her oldest son has completed his university training and her younger son currently attends university. In the future, she hopes for continued success and wants to build a house and cellar in her yard.
She is requesting a 1,000,000 MNT loan to purchase a large amount of vegetables from local growers at wholesale prices.
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.