Yumsuren is a 52-year-old widow who lives with her three children in a ger in Uvs province. Her daughter Bat-Orshih graduated university and now looking for a job. Son Batchimeg, age 20, is a freshman at the local university and younger daughter Olzii-Orshih, age 16, goes to local school. Yumsuren has been running her cobbler business at home for years and now her daughter Bat-Orshih helps her, improving her business income. She is now requesting 1'000'000MNT to purchase inventory from Ulaanbaatar at lower prices and to produce more shoes in order to increase her income and profit. She is a hardworking, modest and honest woman who says, "My younger children are enrolling to universities and I have tuition fees to pay so I need to work even harder."
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.