Sumiya B. is 47 years old and lives with her son and her daughter in a ger, a Mongolian nomadic housing tent, in Hovd province, Mongolia. Her son is unemployed and her daughter is a student.
She manages a meat-trading business in her town. She started her business in 2005 and has gained much experience. With her business profit she is able to feed her family and pay the tuition cost of her daughter.
She is planning to build a house in the future. She is a polite woman who says, "I want to have a house where my family can live happily."
She is requesting a 2,500,000 MNT loan to purchase a large amount of meat in order to sell it in spring time.
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.