Otgonjargal is 43 years old and lives with her husband and four kids in a ger (a Mongolian yurt) in Uvurhangai province, Mongolia. Her husband is employed, her elder two kids are college students and her younger two are school students. Otgonjargal operates a water distribution business. She started her business in 1990. She runs a well. Her well is fairly profitable. However, her equipment is broken. Therefore, she's requesting 1,150,000 MNT to buy necessary equipment. She is a sharp and hardworking woman who says, "It has been horrible since my business gone down. I have to act aggressive in order to pay my children's college fee".
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.