Munhbayasgalan K. is a 38 year old and lives with her husband and two children in Harhorin of Uvurhangai province of Mongolia. She and her family live together in a house and fence. Her two children both attend university while her husband works for the local mining company. Munhbayasgalan operates a grocery trading business in her town. She sells a variety of food products such as ice cream, meat, dairy product and other in her own small shop next to her home. She started her food trading business in 1997 after building her small shop in her fence. Almost 13 years of owing this business, she was able to establish a stable business in her local community and her earnings have enabled her to buy a mini truck for her business. For the future, she plans to start operating PC game center to supplement her earnings. With her business profits, she has paid her children's tuition fees. Munhbayasgalan is a clever and hardworking person and is requesting a 1,000,000 MNT loan to purchase computers and other equipments in order to open PC game center in the near future.
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.