Shurnee, 31, is married and lives with her husband and two children in Dornod province of Mongolia. They live in an apartment and they have a decent standard of living. Her husband works as a customs officer and her two children go to a kindergarden.
Shurnee began her bakery business in 2009, after graduating from vocational training. In the beginning, she got a loan of 600,000 MNT from our bank to start her business, and she paid it back. She used to make only bread, and now she makes a variety of bread, muffins and donuts. She is a hardworking and polite person who says, " I would like to expand my business and operate a bigger bakery ". She is requesting a loan of 1,500,000 MNT to purchase more kitchen tools and materials for her bakery business.
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.