S. Ariuntsogt is 40 years old and lives with her husband and two children in a house in Zavkhan province in western Mongolia. Her oldest son attends local secondary school and his younger daughter hasn't yet reached school age. Ariuntsogt operates a small electronics shop in his town. She offers a variety of products and services including DVD rentals, cellphone parts sales, and computer services. Ariuntsogt started his business in 2003 and has since built a great reputaition in her community among her customers and suppliers both. She attributes her success to her strong accounting practices. Ariuntsogt's business is very important to her and her family, and she says, "I want to expand my DVD rental business so that I can provide for my children's education."She is requesting a 3,500,000 tugrug (~2460 USD) loan to purchase more cellphone parts to sell and DVDs to rent at his shop.
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.