Otgonbileg is 52 years old and lives with her husband, two children and her granddaughter. Her husband is an accountant, her children are college students and her granddaughter stays at home.
She started her grocery business in 1996 by planting potatoes. Now, she harvests 2,500 kgs. of potatoes each year and she owns a retailing counter in a local market.
However, her own harvest isn't enough for running a retail business so she buys additional stocks each year. She is requesting 800,000 MNT to buy other kinds of vegetables for her grocery trading business.
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.