Darisuren is 40-year-old widow who lives with her three children in her brother's backyard in Uvs province, Mongolia. They live in a 'ger', a Mongolian traditional nomadic housing tent. Her older two children are students and the youngest one is a pupil. She manages a grocery trading business in her town.
She started her business in June 2010 out of a rented container at a local market. At first her working capital was 1,500,000 MNT which has increased to 2,000,000 MNT. Her business is quite profitable and allows her to pay the education costs of her children. She is planning to continue and expand her business in the future. She is a polite woman who says, "I would like to have my own plot of land where I can build my own house." She is requesting a 1,000,000 MNT loan to purchase more grocery items 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.