Ouynchimeg is 43 years old and lives with her husband and two children in a house in Dornod province, Mongolia. Her elder daughter is a student.
Ouynchimeg manages a grocery trading store with the help of her husband. She started her business in 1997. Previously, she operated a small grocery booth. Through years of business operation she managed to stabilize her business and build a grocery store near to her home. She is planning to expand and continue her business in the future. She is a polite woman who says, "I am planning to make my store building much bigger in the future." She is requesting a 3,700,000 MNT loan to purchase more inventory 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.