Norovsuren is a forty-five-year-old woman who lives with her husband and two children in Uvurhangai province in Central Mongolia. Her husband is employed. The oldest child studies at college. She opened a small food shop in 1995 and she has expanded and changed the place several times, searching for new markets. She runs the business in a rented room of the building. She has gained many regular customers. She also runs food cart business with her husband in summertime.
Norovsuren is a diligent woman who says that "I need some support to buy the supplies for my business as it is becoming summer. I have a further plan to expand and develop my business". The total amount she is requesting is 3,000,000 MNT to buy the food supplies.
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.