Uranbileg is 40 years old and lives with her husband and two children in a house in the Uvurhangai province of Mongolia. Her younger son goes to secondary school while her husband works as a carpenter. She manages a wooden product making business with family help. She started her business in 2002 and has gained much experience. During summer her older son, her husband and Uranbileg work as interior decorators and during winter they make their wooden products such as chairs, tables and hangers. With their earnings they are planning to build a winter house for family use. They are all very diligent and hardworking people who are going to continue and expand their business. She says, "We are planning to complete construction work of our winter house in August." She is requesting a 3,000,000 MNT loan to purchase wood 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.