Auysh is 48 years old and lives with her husband and four children in a ger, the Mongolian traditional nomadic housing tent, in Hovd province, Mongolia. Her two older children are students while her younger one is a pupil. Her husband is a driving instructor at a private driver training school.
Auysh manages a computer and Canon service business besides her accounting job at Hovd Uho Co.,Ltd. However, she is planning to quit her job in order to conduct her own business in the future. The reason is that her employer never pays her salary on time and her own business is much more profitable compared with her accounting job. She is requesting a 600,000 MNT loan to purchase equipment for servicing computers.
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.