Oyunchimeg is a forty-one-year-old woman who lives with her husband and two children in a suburban area of the capital city of Mongolia. Her husband is employed. The children go to college and high-school. She started a construction-materials trading business in 2004. She trades products at the bazaar, which is often crowded and has many customers. She rents a counter at a bazaar, but she is planning to develop the business by buying her own shop counter.
Oyunchimeg is an honest and bright woman who says that "I would like to expand the business activity by buying construction materials in large amounts from China so that I can save more money and save it for my daughters' college tuition fees". The total amount she is requesting is 2,000,000 MNT to buy construction materials to sell.
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.