Delgernomin is 25 years old. She lives with her husband, son, mother and sister in a ger (Mongolian yurt) in Ulaanbaatar city, Mongolia. Her husband helps her run the business and her son is a kindergarten student.
Delgernomin started her cell phone retailing business in early 2011. Even though she's fairly new to the business, she has already found a trusted supplier in Korea. Her business income is stable and her business location is excellent. Now that smart phones are becoming increasingly popular, she needs to broaden the range of phones she sells. She is a sharp young woman who says, "since my business is the only income in the family, I must do what I can.” She is requesting a loan of 3,000,000 MNT to buy additional 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.