Tuya, 37 years old, is married and has three children who all attend a high school in town. Tuya and her family live in their own house and yard in the Hovd province of Mongolia. Her husband was previously a driver, but he is now not working. Tuya has been operating a towel-selling business since 2008. She has also started to sell underwear. She and her husband are planning to operate furniture-making business and to buy tools and to do repairs. Tuya is a handy person. She requesting 3,500,000 MNT to purchase more goods to increase her working capital.
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.