Oyunchimeg is 22 years old and lives with her husband and son in a ger (Mongolian yurt) in Uvurhangai province, Mongolia. Her husband works in a factory and her son goes to kindergarden. She started her hairdressing business in 2008 by renting a space in market. Her business income has been pretty much the same since she started her business therefore, she decided to sell cosmetics. She thinks that it will attract a lot of customers and retailing cosmetics is very profitable therefore, she is requesting 700,000 MNT to buy supplies. She is a sharp and hardworking woman who says "Now I have a son to support therefore, I need to increase my income."
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.