Gunjmaa, age 37, manages an Internet cafe from a rented apartment. She has been engaged in her business for eight months. Before that, she operated a Canon photocopying service for about eight years.
Gunjmaa lives with her husband and two children in a house in Ulaanbaatar, the capital city of Mongolia. Her husband is a guard at APU Co., Ltd., the country's number one manufacturer of alcoholic drinks. They have two daughters: one is still a baby and the other, age 3, is enrolled in a local kindergarten.
Gunjmaa has worked hard to stabilize her business and has built a strong customer base. She tells us that she plans to open an additional branch in the near future. She is requesting a 3,000,000 MNT loan to buy a new computer and computer equipment in order to increase her business revenue.
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.