Otgon is a 37-year-old woman who lives with her husband, mother and a daughter in the Uvurhangai province of Central Mongolia.
Her husband is unemployed and her mother is too old and stays at home. The daughter studies at the secondary school.
She worked for the animal hides sales center for five years and in 2005 she became independent and started selling animal hides. Now she plans to get the supplies in large amount and trade them so that she could earn enough to feed the family.
She is a clever and hardworking woman who says that "I would like to extend my business by getting the supplies in large quantities". The total amount she is requesting is 2,100,000 MNT for more animal hides from herders.
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.