Oyun R., age 46, lives with her husband and three children in a Ger, traditional Mongolian nomadic housing tent, in Ulaanbaatar, the capital city of Mongolia. Her oldest daughter attends a university while her youngest son attends a secondary school. Her older son, Ganbaatar, works as a private businessman. Her husband runs a transportation business in his town to supplement his family's income.
Oyun operates a fruit retail business at a stall in Narantuul, Ulaanbaatar's biggest market. Her business earnings have enabled her to improve her family's quality of living. She is a well organized and skillful businesswoman. She says, "I want to expand my business operation as well as provide a high level, good education to my children". Oyun is requesting a 3,000,000 MNT loan to buy more fruit to increase her working capital.
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.