Amraa, age 41, is widowed and lives with her daughter in Uvurhangai Province in Mongolia. They live in a ger (a Mongolian nomadic housing tent) on a small plot of land that they have owned for the past ten years. They have a decent standard of living. Amraa started working as a salesperson at a stall in 2004, and she began operating her own construction materials trading business in 2008. Now, she sells construction materials from a store that she owns, and her current retail turnover exceeds 7,000,000 MNT. She is a hardworking and polite person. Amraa is requesting a loan of 2,000,000 MNT to purchase more construction materials for her 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.