Norov T. is 62 years old and lives with her daughter in Ulaanbaatar, the capital city of Mongolia. Her daughter works as a professor in the National University of Mongolia while Norov manages her private hospital service in the city. They live together in a ger, a traditional Mongolian nomadic tent. Norov's hospital was established in 1999 specializing in the treatment of venereal disease- infections that are acquired and transmitted by sexual contact. She is a hard working woman who is always looking for ways to increase her earnings. She hopes to one day have the possibility of opening a big new hospital. She is requesting a 4,000,000 MNT (2998 USD) loan to purchase medical equipment and tools for her hospital.
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.