Oyungerel is 31 years old and lives with her husband and two children in a house in the Suhbaatar district of Ulaanbaatar, capital city of Mongolia. Her husband is a lama and her two children attend kindergarten. She manages a construction material trading business at a rented stall at a trading center called Margad. Oyungerel started her business after graduating her college in 2002. Now her business has been stabilized and she has many regular customers. She attributes her business success to the good location of her store. She is planning to expand her business in the future. Oyungerel is a patient woman who says, "I want to broaden the variety of my products in order to attract more customers." She is requesting a MNT 3,000,000 loan to purchase more construction material to sell.
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.