Dolgormaa is 41 years old and lives with her husband and a son in the city of Ulaanbaatar, Mongolia. Her husband works in the countryside and her son studies at a local elementary school. She started her grocery retail business in 2003 and, as a result, her shop is very well known around the neighborhood. Her daily income is 500,000-600,000 MNT and she bought an apartment with the profit. Now that many new buildings have been built in the neighborhood, she needs to broaden her product range in order to keep up with the new demand. She is a sharp and hardworking woman who said, "There are many new buildings around here and it is my chance to expand my business." She is requesting 3,000,000 MNT to buy more products.
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.