Munhjargal D. is a 25-year-old woman who lives with her parents in Hovd province, Mongolia. She has a sick mother who is confined to bed and a father who is not working. Munhjargal operates a café business and has worked in her rented café in town since 2009. Before this, she was working in her sister's café, so she has a lot of experience. Munhjargal is a friendly and hardworking woman. She has good family relationships even though her standard of living is poor. In the future she hopes to have her own restaurant and be able to help her parents. She is requesting a 1,500,000 MNT loan in order to buy a refrigerator and dishes for her café.
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.