Mrs. Nyam-Osor is 41 years old and lives with her three children in an apartment in the Tolgoit area of Ulaanbaatar city, Mongolia. Her older son is in military service and her younger two children attend local schools. She has been running a bag and eyeglass retail business at a rental counter in a local market for two years now and has acquired regular customers over the years. She has good taste in choosing bags and eyeglasses for her customers and is well known among her customers. Her business income is the only income source for the family and she is trying to raise her children to be highly educated and better people. She is now requesting a loan of 1,500,000 MNT to purchase a variety of bags and eyeglasses to sell in her rental counter to increase her family income. She is a hardworking and responsible 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.