Tuya is 51 years old and lives with her husband in a ger (Mongolian yurt) in Ulaanbaatar City, Mongolia. Her kids are all independent and employed.
Tuya operates a bakery business. She started her bakery business in 2007. Even though her bakery is small, it is well known around the neighborhood for excellent taste. She bakes two kinds of breads. Her product demand is increasing; however, she couldn't keep up with it due to the shortage of raw materials. She is requesting 700,000 Mongolian tughriks (MNT) to buy one ton of flour and one ton of coal.
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.