B. Anhtuya is 37 years old and a married mother of one daughter. She has one daughter who goes to elementary school. Her husband works as a taxi driver and auto-mechanic. She has been running a dairy sales business since 2003. She had been selling milk, "airag" (fermented mare's milk, a Mongolian delicacy), yogurt and other dairy products by going door to door in her neighborhood. When she started running her small business, her capital was only 100,000 tugrigs ($1 USD=1,500 tugrigs). But with time and persistence her business has grown, and she in 2006 started renting a food stall at the local market. Her business capital has increased to 800,000 tugrigs. With the loan she is requesting, she will buy more dairy products from wholesalers to increase her business inventory. Her dream is for her daughter to become a professional person and have a rich and happy life.
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.