Oyun is 52 years old and lives with her husband and two children in a house in the Han-Uul district of Ulaanbaatar, the capital city of Mongolia. Her oldest daughter works for the Skytell company while the youngest attends university. Oyun sells women’s handbags that are imported from China out of a rented stall at the largest outdoor Ulaanbaatar market, Narantuul, which is a difficult place to operate trades during the winter months. She began her business in 2000 after working as a quality control specialist for the Mongolian Leather company between 1976 and 1993. Before starting her current business, she made a variety of leather bags herself and sold them at the market. After years of successful operation, she has built a stable operation and her earnings have enabled her to build a house in her fence for her family. In the future, she plans to expand her business and increase her business profits. She is requesting a 2,500,000 MNT loan to purchase more handbags to sell for the upcoming Tsagaan Sar, Mongolian New Year holiday.
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.