Mrs. Marusya is 65 years old and lives with her husband and a son in their small house in Ger district, Dundgovi province, Mongolia. Her husband is retired and stays home. Her son is 21 and works at a local company.
Marusya drove a local hospital emergency vehicle for years and retired a few years back. She is a very careful and reliable driver and hardworking woman. Even though she is retired she started a taxi service business in town to increase the family income and provide a decent living for her family. She is now requesting loan of 5,000,000 MNT to replace her old car, which has been broken several times recently thereby not allowing her to run her business. She is also thinking of handcrafting traditional cigar cases at home in her free time.
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.