Tuya, 52, is married and lives with her husband and daughter in Songinohairhan district of Ulaanbaatar, the capital of Mongolia. Their daughter attends a local school; her husband is disabled due to a car accident. They live in a house on the outskirts of the city and they have a decent standard of living.
Tuya started a public transportation business in 2006. She made an agreement with a bus company to get the bus by leasing it and making payments from her profit. Now she owns the bus as she has finished the payments recently. By owning the bus, she only pays taxes and the driver's salary while all the income directly goes to her. She is planning to have her own garage in the near future.
Tuya is a polite and honest person who says, "I wish to build a better life and help my daughter to finish university by working hard." Tuya is requesting a loan of 3,000,000 MNT to buy spare parts and cover maintenance costs for her bus.
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.