Tumenjargal is 48 years old and lives with her children and husband in a ger, a Mongolian yurt, in the Tosontsengel province of Mongolia. Her children are high school and college students. Her husband works as a clerk at the local high school.
She started her business in 2000 by planting vegetables at her home. She has many years of business and work experience. Her family supports her business. She is planning to expand her business activities. She just bought 20 chickens to start a chicken farm. She is a diligent and hardworking woman who says "With the bank loan, I want to expand my business and improve my life. In the future, I also want to buy a car for the family. Like this I have many plans."
She is requesting a 1,000,000 Tugrik (MNT) loan to transport the vegetables to the city of Ulaanbaatar and sell them.
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.