Munhtugs T. is 33 years old and lives with her husband and infant daughter in their ger, a traditional Mongolian nomadic housing tent, in Zavhan province of Mongolia. Her husband, Narantungalag, operates an auto repair center in his town with the help of his father to supplement his family income. Munhtugs owns and operates a grocery store with the help of her mother. She began her business in 2006 with a small shop and since then she has managed to expand her shop into a supermarket, the only one in her town. Her supermarket is a self-service store offering a wide variety of food and household merchandise in the local community. Over years of successful operation, also her revenues and profits have risen and she has built a stable operation. She is a very hardworking and open minded person who wants to keep growing her business in the future. Munhtugs is requesting a 400,000 MNT (300 USD)loan in order to purchase a large amount of inventory from Ulaanbaatar, a capital city of Mongolia for her supermarket.
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.