Oyun is a 51-year-old widow who lives with her two children in a ger, (a Mongolian yurt) in Uvurhangai province, Mongolia. Her son is a student and her daughter helps with family business.
Oyun manages a vegetable trading business from a rented stall, at a local market. She has been operating her business for several years and has gained much experience. Now she owns a 0.8 hectare plot of land where she plants daily consumption vegetables such as carrots, cabbage, onions and potatoes, etc. She buys rare vegetables from Ulaanbaatar city, twice a month. She is a kind lady who is planning to expand her business. She says, "I will do my best in order to continue my business successfully." She is requesting a 2,000,000 MNT loan to purchase seeds 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.