Munhtuya is 45 years old and lives with her son in a rented apartment in the Suhbaatar district of Ulaanbaatar, the capital city of Mongolia. Her son is 14 years old and attends a secondary school.
Munhtuya runs a construction material trading business from a rented stall at a trading center. She started her business in 2007 and has gained much experience. Recently, she began renting one more stall in order to increase her sales channel. She is a polite woman who says, "I want to have my own house in the future."
Munhtuya is requesting a 3,000,000 MNT loan to purchase construction materials from China to sell this coming summer.
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.