Almagul is 30 years old and lives with her husband and two kids in a ger, a traditional Mongolian yurt, in the Bayan-Ulgii province of Mongolia. Her husband helps with her work and her kids go to kindergarten.
Almagul started her business in 2004 by trading wool and cashmere. During the summer time she works at a construction site. Her living condition is average and this summer she built her own house. Now that winter is coming, she needs more stock to run her business. She is a hardworking and diligent woman who says "I do everything I can to upgrade my living condition". She is requesting 2,200,000 MNT to purchase more wool.
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.