Dulguun is a 28-year-old woman who lives with her husband and a daughter in a 'ger' (a traditional Mongolian tent) in Ulaanbaatar city, Mongolia. Her daughter is 1 year old. Dulguun has been running a retail mobile phone business with her husband since 2009. She purchases the products wholesale from the suppliers. Now she plans to purchase the phones from Korea as they produce qualified phones with high specifications. She is trying hard to improve their livelihood with her husband.
Dulguun is an ambitious young woman who says, "I would like to expand the business activity by purchasing the products in large quantities from Korea. I have a further plan to develop the business." The total amount she is requesting is 3,000,000 MNT to buy more Korean mobile phones.
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.