Bolormaa is 39 years old and lives with her husband and four children in a ger, Mongolian yurt, in Uvurhangai province of Mongolia. Her husband manages a tire repair business and her older daughter is a hairdresser. Her two children, aged 11 and 14, are disabled and her younger one is in secondary school.
Bolormaa manages a felt craft making business in her town. She started her business after her graduation from a felt craft making course, in 2009. Now her working capital exceeds 250,000 MNT, with daily earning of 5000-9000 MNT. She is a polite and friendly woman who says, "I want to have a nice house where my disabled children can live safely." She is requesting a 500,000 MNT to purchase home appliances for her disabled children.
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.