Oyunchimeg is 22 years old and lives with her husband and son in a ger, a Mongolian yurt, in her parent's backyard. They live in Uvurhangai province, Mongolia. Her husband works in a paper producing factory. She manages a hair salon at a rented booth at a trading center.
Oyunchimeg started her business after graduating from school with Diploma of Hairdressing in 2008. In 2009, she changed her working place in order to increase her customers. Now she has many regular customers and is planning to continue her business. She is a polite woman who attributes her business success to her good communication skills. She is requesting a 500,000 MNT loan to purchase equipment 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.