Myagmarsuren is 38 years old and lives with her husband and four kids in a ger, a Mongolian felt tent, in Ulaanbaatar city, Mongolia. Her husband and elder child work in the same company, her middle child is a college student, and the youngest two are in school. In 2007, Myagmarsuren started a home-product trading business in a rural area. She decided to move to the city for sake of her children's education and has arranged for someone to help run her business. Myagmarsuren is a sharp and hardworking woman who says “I have seen other people who sell products and it is pretty much the same products that I sold in the past so I am not that worried about my business.”
Myagmarsuren is requesting a 2,000,000 MNT loan to purchase more goods for her 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.