Ariunaa B. is a 26 years old, single woman. She lives with her parents and sister in a Mongolian nomadic dwelling called 'ger' in Ulaanbaatar, Mongolia. Both her parents are retired and her sister, Navchaa, is currently pursuing a master's degree in university. Ariunaa stopped attending university because she was not able to pay her tuition fees.
Ariunaa manages a grocery trading business in a rented space in the local community. She has been operating her business since 2009 after working as a salesperson at a shop. Her business has grown quickly within a short period of time. She sells cell phones in addition to food stuff. Her earnings have enabled her to pay her sister's tuition fees and to contribute to her family's income as well. In the future, she wants to continue studying and to purchase her own land with a fence. Ariunaa is a diligent and hardworking woman. She says: "I am planning to complete my undergraduate degree."
Ariunaa is requesting a 1,500,000 MNT loan to become an official distributor for a cell phone service provider and sell cell phones through her grocery store.
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.