Enhtaivan A. is 37 years old and lives with her son in Arhangai province of Mongolia. She and her family live in a 'ger', a traditional Mongolian nomadic tent. Her son studies in a local high school. Enhtaivan operates a dairy product retail business in her town at the local market. She began her business in 1998 with capital of 30,000 MNT. After years of successful operations, she has increased her capital to 1,360,000 MNT.
Enhtaivan has an open heart and works hard to improve her business. She has many plans for the future and said, “ My only wish is to be able to support my son to be a better person in the future.” She is requesting a 2,000,000 MNT loan in order to purchase more dairy products to sell in 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.