Otgonjargal is 34 years old and lives with her husband and two children in a ger, a Mongolian yurt, in the Huvsgul province of Mongolia. Her husband is self-employed, her eldest son attends high school, and her daughter attends kindergarten. She was first employed as a hair washer at Margad beauty salon in 2009 and worked there for one year. In 2010, she upgraded her skills and became a hairdresser and stylist at Iher Saran beauty salon. She is a diligent and hardworking woman who says, "With this loan, I want to buy supply materials for my work because the number of customers will increase when the new school year starts." She is requesting a 600,000 Mongolian tugriks (MNT) loan to purchase beauty supply materials for work.
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.