Munhzul is 53 years old and lives with her son in a ger (Mongolian yurt) in Selenge province, Mongolia. Her husband passed away recently, her elder children live separately and the younger one is a school student. She started her meat retailing business in 1992 by renting a counter in a market. Over the years she gained many trusted suppliers and regular customers. She is a contracted supplier of many small restaurants. The price of meat almost doubled within a year. Therefore, she needs some additional supply in order to run her business. She is a sharp and hardworking woman who says,"I have many children to support and my business is in a very vulnerable position. Therefore, I need to pass this moment". She's requesting 3,000,000 MNT to buy more meat from herders.
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.