Oyun-Erdene is 24 years old and lives with her husband and two kids in a ger (Mongolian yurt) in Uvurhangai province, Mongolia. Her husband is a cab driver, her elder kid is a school student, and the younger one is a kindergarden student. She started running her small food court business in early 2011. Her foods are delicious and inexpensive. Her income is increasing day by day. Now that her business is picking up, she needs to upgrade her equipment and buy some additional supplies. Therefore, she's requesting 660,000 MNT to purchase flour and meat. She is a young, confident woman who says, "I am so glad that my business is picking up. I will not stop now."
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.