Myagmarsuren D. is 33 years old and lives with her husband and two children in an apartment Tuv province in central Mongolia. Her oldest daughter attends a local secondary school. Her husband operates an international cargo service between Korea and Mongolia. Myagmarsuren used to work as a programmer in the health agency between 2000-2006 after graduating from agriculture university in 1998. In 2009, she and her husband both went to Korea to work there in order to make more money. After returning to Mongolia in 2010, her savings earnings have enabled her to purchase an apartment and a new car for her family. She currently operates a clothes and cellphone trading business in her town. She started her clothing business in August, 2010 by selling a variety of clothing items and cellphones and its parts in the local trade center. Myagmarsuren plans to expand her business by offering computer related services to her customers. In order to operate this business, she needs to purchase and place a computer, camera and printer next to her stall at the local market. For the future, she hopes to continue to grow her business and open her own trade center with her business profits. She is requesting a 2,000,000 MNT loan to purchase computer, canon and printer in order to start providing new services.
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.