Togtuur is 29 years old and lives with her husband in their ger (traditional nomadic yurt) in Uvs province, Mongolia. Her husband helps her to run their family business of traditional food delivery.
Togtuur used to work at a local small cafeteria. She rented the small cafeteria and started her own cafeteria business in 2005. But the profit margin was very small due to the renting fee. She decided to cook food at home and deliver to local market retailers and other businesses. Her husband helps her to deliver food and purchase the materials. Togtuur is also planning to open a mobile clothes retail business soon.
Togtuur is now requesting a loan of 2,800,000 MNT to purchase a large amount of meat and other food materials to run her traditional food delivery business.
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.