Uuganbayar is a 39-year-old woman who lives with her husband and 2 children in a traditional ger (nomadic tent) in Ulaanbaatar city, Mongolia. Her husband is employed by a private company. Her children go to the secondary schools. She has been running a food store business since 2006. The business activity has been stable. She owns a small van which she uses to purchase the supplies wholesale. Uuganbayar is a good-natured woman who says, "I would like to develop my business by purchasing supplies in large quantities. I will spend the loan funds for the benefit of the business". The total amount she is requesting is 2,000,000 MNT to buy food store inventory.
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.