Otgonbayar is 35 years old and lives with her husband and three children in a ger (a Mongolian yurt) in Govisumber Province, Mongolia. Her husband has a stable job. Their three children go to school and kindergarden. She started her business in 2010 selling cart food. Now she rents a counter in a market selling groceries. Now that her business is stable enough, she wants to expand her business by selling fruit. She is a sharp and hardworking woman who is requesting 1,000,000 Mongolian tugriks (MNT) to buy fruit.
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.