Oidov is a 28-year-old woman who lives with her husband and 2 children in a rented "ger" (a traditional Mongolian tent) in Arhangai province of Central Mongolia. Her husband is employed. The oldest child studies at the secondary school and the younger one goes to the kindergarten. She used to run a food supply business, and then she changed the business activity into retail sales of meat and meat products. She has been running the business with her friend successfully. She has a good business sense and works out good plans.
Now she plans to purchase the products in large quantities to save more. Oidov is a diligent woman who says, "I would like to expand the business activity by buying the products in large quantities. I am aiming to get my own ger to improve my the livelihood." The total amount she is requesting is 560,000 MNT to buy meat and meat products.
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.