Nyamsuren is 52 years old and lives with her daughter in a ger (a mongolian yurt) in Ulaanbaatar, Mongolia. Her daughter is a college student. Since 2001, Nyamsuren has had a contract with the public transportation service; she uses her own van. Now that the van is getting old, it needs some serious maintenance. She is a strong and hardworking woman. Nyamsuren says, "Now that my daughter joined a college, I need to work hard in order to support her". She is requesting 1,500,000 MNT to buy spare parts to repair her van.
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.