Adiya is 65 year old, widowed, and has one adult child. They live in a ger, a Mongolian yurt, in Ulaanbaatar, the capital city of Mongolia. She manages a shoe-making business with the help of her daughter. They started their business in 2003 and gained much experience. Adiya is responsible for making children's shoes and her daughter is responsible for making adults' shoes. They sell their products at a rented stall at a Narantuul market, one of the busiest markets in Ulaanbaatar city. Their products are well-known among their customers for quality and durability. Adiya is a diligent woman who attributes her business success to her good accounting skills. She says, "I want to earn much money by increasing my business sales." She is requesting a 1,500,000 MNT loan to purchase shoe materials 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.