Almagul is 31 years old and lives with her husband and two kids in a ger (Mongolian yurt) in Bayan-Ulgii Province, Mongolia. Her husband is a chauffeur, her elder child is a student, and her younger one goes to kindergarden. She started her cosmetic products retail business in 2010 by renting a counter in a market. Her business is going so well that she couldn't meet the customers' demand. Since the demand is high, she decided to rent another counter and buy even more products to sell. She is requesting 1,500,000 MNT to purchase more beauty 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.