Otgonsuren is a 43 year old widowed woman who lives with her 2 daughters in Uvurhangai province of Central Mongolia. She is a professional cook and worked as the major until 2009. Then she started her cafe business in a rental space in the market in 2011. Since that time, she has made some changes inside the room and for the food. Her customers are really satisfied with the service. Now, she plans to buy some new equipment for the business, so that the food can be prepared easily and the service will be greatly improved. She is really responsible woman who says that "I wish to extend my business activity to earn more for my daughters' college tuition fees. I have further plans, too". She is requesting a total of 2,500,000 MNT for the cooking equipment and additional chairs and tables for her cafe.
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.