Urjinhand, 49, is married and lives with her husband and two children in the Uvs province of Mongolia. Her husband works as an assistant for a car-repair workshop in the winter and does construction work in the summer time. Her son attends a college and her daughter goes to a local secondary school.
Urjinhand began the retail trading of coal and firewood in 2003. In addition to her retail business, she operates a well to sell water to locals. She sells coal and firewood outside the well. A bag of coal costs 3,500-4,000 Mongolian tugriks (MNT) and wood costs 2,500-3,000 MNT. Her monthly income fluctuates between 100,000 to 200,000 MNT.
She is a sociable and hardworking person and her family members support her business. She is requesting a loan of 500,000 MNT to purchase more coal and firewood 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.