Javzmaa is a 33-year-old woman who lives with her daughter and younger brother in their own house in Songino-hairhan district, Ulaanbaatar, capital city of Mongolia. Her younger brother is a welder in a private company and her only daughter, who is age 10, attends secondary school.
She manages a grocery shop near to her home. She started her business in 2007. With four years in business, she has gained much experience and wants to expand her business in the future. She is an honest woman who says, "By depositing my earnings, I want to pay the college tuition fees for my daughter."
She is requesting a loan of 1,800,000 MNT to purchase meat and meat products in order to sell them in the coming spring period when meat sales are higher compared with other seasons.
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.