Oyunjargal is 29 years old and lives with her grandmother, 72 years old, in Uvurhangai province of Mongolia. They live in a ger, Mongolian nomadic housing tent, on a small plot of land that she bought in 2008 with her business revenues.
Oyunjargal began selling consumer goods at a rented stall in 2000. Initially, she ran her business with her sister and they expanded their business very well. Her sister was responsible for purchasing and importing the goods from China, and Oyunjargal was in charge of sales. In 2009, her sister moved to Ulaanbaatar, the capital of Mongolia, and Oyunjargal began operating her retail trading business alone. Her current stall is located in a crowded local market. So far, she has gained enough experience and has built a good reputation among her customers. She goes to China once or twice a month depending on the sales. She is a polite and hardworking person. Oyunjargal is requesting a loan of 2,000,000 MNT to purchase clothing 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.