Dulamjav is 39 years old and lives with her husband and two children in Tuv province, Mongolia. Her husband is a laborer in Korea, and he comes to Mongolia once a year for a vacation. Her oldest daughter is a university student in Ulaanbaatar, the capital city of Mongolia. Dulamjav's youngest daughter attends a local secondary school. They have been living in their current home for ten years.
Because of her hard work and determination, Dulamjav bought a car this year with the profits from her business. During the day, she has been renting a counter for her toy-retailing business, which currently has working capital of 3,200,000 tugrugs (approximately 2,250 USD). Her daughter supports her mother in her free time.
Dulamjav started her business in 2006 with working capital of 500,000 tugrugs (approximately 350 USD). She purchases toys from Korea, and her revenue is quite good because she only sells high quality products. She has great business experience gained in previous years.
Dulamjav is a decent and very hardworking person. She says, “I would like to expand my counter and I am working hard to establish my own toy shop.” She is requesting a 2,000,000 tugrug loan to increase her working capital and to increase the inventory of her 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.