Mungunsar is 56 years old and lives with her son, daughter-in-law and grandson in Ulaanbaatar city, Mongolia. She operates a jewelry trading business in a local market. She started her business when she arrived from Korea in 2010. She has a lack of business experience. For now, her daily profit is 20,000-30,000 MNT. Even though she is fairly new to the business she already has some regular customers and is known for her service. She is a hardworking and diligent woman who says, "I want to increase my current asset in order to improve my profit". She is requesting a 1,500,000 MNT loan to purchase more leather and silver and to increase her assets.
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.