Alimaa, 56, lives with her son and daughter-in-law and two grandchildren in their own apartment in Darhan, the second biggest city in Mongolia. Her husband passed away 8 years ago. She started her meat trading business in a local market with the working capital of 250,000 MNT in 1996. In the past 12 years, she has managed to increase her money 12 times over. Her business has expanded even a little more now so she is able to buy a certain amount of meat and sell it in her stall in the local market.
Even though she has a hearing impairment, she has been trying hard to operate a successful business and has managed so far. She is a good-tempered, hard-working woman. Alimaa says, "My dream is to help my son to build up a source of regular income so that he can live without stress all his life." She is requesting a loan of 3,000,000 MNT to buy and keep more meat that she to sell during Tsagaan Sar, Mongolian traditional New Year.
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.