Ayurzana is a 62-year-old woman who lives with her husband, daughter and niece in a small house in Sukhbaatar district, Ulaanbaatar, Mongolia. Her husband works at City Power Plant as an electrical engineer. Her daughter stays home taking care of her daughter and her parents.
Ayurzana has been operating various types of businesses since 2001. She has been selling clothes and shoes for a long time and has built strong relationships with her customers at the local market. She said, "There is lot of competition within the clothes retail sector, and I want to start a cosmetics sales business at the counter I rent at the market." Therefore, she is requesting a loan of 600000 MNT to purchase cosmetic goods to sell. She is a welcoming, responsible and neat woman.
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.