Odonchimeg is 40 years old. She lives with her son in a house in Govisumber province of Mongolia. Her older daughter, who is a student, lives by herself. Odonchimeg manages a grocery trading business near to her home. She started her business in 2000 in a rented stall, at a local market. In 2003 she was able to expand her house in order to operate her business there. Now she sells all kinds of grocery items and some clothing. She purchases her grocery items once in a week from Ulaanbaatar city. She purchases her clothing once every two weeks from Ereen, border city of China. Her business has been quite successful, which has allowed her to employ two salespersons and one cleaner. She is planning to expand her business and to employ two more workers. She is a kind woman who says, "Because of good location, my business is flourishing fast. My store is located near to a secondary school and a train station, so I have many regular customers." She is requesting a 3,000,000 MNT to purchase more products for her store.
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.