Tuya D., 42, is widowed and lives with her three daughters in Darhan, the second biggest city in Mongolia. They have been living in Darhan for three years and she has been taking care of her daughters alone for six years.
She started her retail trading business in 2000 and her working capital is 1,500,000 MNT. She is a caring mother and hardworking person who says, "My wish is to raise my daughters well-educated and provide the opportunities that they could take care of their own living without any difficulties in the future. And I am trying hard to make them well-educated people."
She is requesting a loan of 1,200,000 MNT to purchase more goods that she can sell during the busy time of Tsagaan Sar, the traditional Mongolian 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.