Meiramgul is 27 years old and lives with her husband and her two kids in a ger, a Mongolian yurt in her father's yard in the Hovd province of Mongolia. Her husband runs a taxi business with his own car and her kids goes to kindergarten. She started her business in 2006 by growing vegetables and selling milk in the winter time. She milks about 20 liters per day. Her milk business is going so well she can't meet customer demand. She is a hard working and diligent woman who says, "I have a vision that someday I could buy my own land". She is requesting a 3,000,000 MNT to buy five cows.
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.