Mrs. Angarig is a 57 year old widow who lives with her daughter, niece and nephew in small house in Dornogovi province in Mongolia. Her daughter, Oyunhishig, age 35, is an interior designer and works part-time during summers and helps her mother to run her business of a grocery store during winters. Mrs.Angarig's niece and nephew, Dashdorj and Sundariya, are secondary school students.
Mrs. Angarig has been managing a grocery store business for years and has become popular within the area. She imports a variety of goods from China. She is a hardworking, friendly and responsible woman who says "I am planning to save the excess amounts from my business profits to help my niece and nephew with their higher education". She is requesting 1,800,000 nMNT to import a variety of food products from China to sell in her grocery store.
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.