Ariunaa B. is 37 years old and lives with her husband and two sons in a house in Zavhan province, Mongolia. Her sons, age 14 and 18, both go to a local secondary school. Her husband, Batbileg, manages a wood-trading business between the center of the province and the countryside area.
Ariunaa operates a dairy-product trading business in her town. She started her business in 2000. She collects dairy products from herders and sells them in the center of the province. She is one of the more experienced businesswomen in her town.
Her husband and Ariunaa deposited their earnings for several years and were able to build a house last year.
She is hardworking lady who says, "I have been able to expand my business by receiving a loan from your bank frequently and I am happy for that. Also our family had a chance to have our own house last year. Since then we began to have a much more comfortable lifestyle."
She is requesting a 1,500,000 MNT loan to purchase more dairy products from herders.
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.