Mrs. Dechingavaa is 42 years old and lives with her husband and two children in a small house in the Tolgoit area of Ulaanbaatar, Mongolia. Her husband Batsuh works at a local company but his work is seasonal and he is now staying at home. Her two children attend the local public school.
Mrs. Dechingavaa has been running a butcher shop at a rental stall of the local market for the last five years. She has a lot of experience and knowledge on running a butcher shop. As a result, she has her own regular customers. She is planning to purchase a secondhand car for her husband to run a taxi service business during the winters when it is his off-work season. She is a hardworking and diligent woman who is now requesting a loan of 3,000,000 MNT to purchase a large amount of meat products to resell at her stall when it is the high season of the year because the Lunar New year is coming.
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.