Davaadolgor is 52 years old and lives with her children, grandchildren, and husband in a ger (a portable dwelling) in the Uvurhangai province of Mongolia. Two of her daughters have jobs in the town. One of her daughters is a college student. Her two granddaughters are high school students. Davaadolgor started her business in 1996 by opening a shoe repair service. Her husband also has the same business and profession. Additionally, they make traditional Mongolian shoes. She has many years of work and business experience. Previously, she provided the services from one location with her husband. Now, they are running their businesses separately. She is well known in the town because of her work and quality of service. She took five loans from XacBank beforehand and expanded her business successfully. Although she lives with many people, her family income and situation are getting better each day. She is requesting a 2,000,000 MNT loan to purchase more materials and to increase her turnover capital.
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.