Morozova is 58 years old and lives with her husband, daughter and grandson in a ger (Mongolian yurt) in Hovd province, Mongolia.
Her husband is retired, her daughter helps with her business and her grandson is a school student. She started her grocery retail business in 1990 by renting a counter in a market. Her business is the only income in the family and is not quite enough to support them all.
Now that her children are grown up, she wishes to expand her business. She is requesting 3,800,000 MNT to buy more goods. She is a sharp and hardworking woman who says, "We're starting to have family crisis, I need to take action in order to protect our only 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.