Uur-Tsaih is 28 years old and lives with her husband and two sons, ages 6 and 8, in the Bayanhongor province of Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent and fence. Her two sons attend a local primary school.
Uur-Tsaih operates a consumer goods trading business out of her two work places, a shipping container and a pavilion in her town. She began her business in a rented shipping container at the local market with a working capital of 1,500,000 MNT. She has built a stable and successful operation and used her earnings to expand her business by purchasing a shipping container at 2,000,000 MNT in 2008. Today her working capital exceeds 3,500,000 MNT. With her business profits, she was able to buy another pavilion, and she now sells her products out of two spots.
Uurtsaih is a hardworking and modest person and says, "I hope to continue to build and run this business as a stable operation and increase my business profits." She is requesting a 1,800,000 MNT loan to import more products from China.
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.