Amarjargal S. is 42 years old and lives with her husband and three children in Hovd province of Mongolia. She and her family live in their own house with a fence. Her two children attend a local school and her husband operates a transportation service in his town to supplement his family's income.
Amarjargal operates a bakery-production business in her town. She produces a variety of pastries and breads and sells her products through the local market. She started her business in 2000 with insufficient equipment and tools by making her products in her ger, a traditional Mongolian nomadic home tent where she and her family used to live.
After years of successful operation, she managed to expand her business and purchased all the necessary equipment and tools worth 3,000,000 Mongolian tugriks (MNT). Moreover, she was able to have her own workplace over the years. With her business profits, she has improved her family's standard of living and her earnings have enabled her to build a two-floor house inside her fence.
She is requesting a 2,500,000 MNT loan to purchase flour in bulk from Ulaanbaatar, a capital city of Mongolia, in order to make a variety of pastries and breads.
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.