Oyunerdene is 25 years old and lives with her husband and daughter in a ger, Mongolian yurt, in Hentii province of Mongolia. Her daughter, who is 2 years old, attends kindergarten while her husband manages a taxi service in his town. Oyundrdene manages a clothing business at a rented stall at a trading center. She started her business in January, 2011. Now her working capital exceeds 3,000,000 MNT, with daily earnings of 50,000-60,000 MNT. She is planning to expand her business in the future. She is a hardworking lady who says, "I want to continue my business, because it is a source of income for my family. Also I would like to have a house for my family."
She is requesting a 3,200,000 MNT loan to purchase more inventory 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.