Darisuren is 54 years old and lives with her husband and two children in the province of Tuv in Mongolia. All of her children got married, and she lives with her husband in a rented house. She began a cosmetic retail business in 2008. Currently she also operates a beauty salon, which she started in 2010, in addition to her cosmetics sales business. Her business has expanded slightly, and she is training six people who will have stable jobs in her beauty salon after graduation. She wants to enlarge her beauty salon and expand her cosmetics sales business. Darisuren is a hardworking and modest person. She is requesting a 2,500,000 MNT loan in order to purchase cosmetics and necessary tools for her beauty salon.
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.