Oyundalai J. is 46 years old and lives with her husband and three daughters in the Huvsgul province of Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent. Her oldest two daughters, aged 19 and 18, are university students while her youngest daughter, age 12, attends a local secondary school.
Oyundalai operates a electron products repair service center, with help of her husband. She began her business next to a grocery shop in 2003. Since then, she has built a stable operation of repairing and performing maintenance on the local people’s electron products. She purchases her raw materials from Erlian, China's border city. Her business is in good spot in the area and she has become popular amongst her customers. They business earnings are the only source of family income. She has used her earnings to pay for her children's tuition fees and on household consumption. Oyundalai is a very modest and hardworking person and is requesting a 3,100,000 MNT loan in order to purchase materials and tools for her repairing center.
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.