Oyungerel is 44 years old and lives with her husband and two sons in a ger (a Mongolian yurt) in the Govi-Altai province of Mongolia. Her husband is a cab driver, her elder son is employed, and her younger son is a college student. She started her business journey in 2000 by selling meats, however she started selling groceries, which is more profitable, in 2010. She already bought a pick-up truck with the profits from her business. Now that her business is profitable, she rented another counter in the market to run the same business. She is a sharp and hardworking woman who says, "Now that my kids are grown, it is time to concentrate on my business." She is requesting 2,500,000 MNT to buy more grocery products at wholesale prices.
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.