Uranchimeg L. is 40 year old and lives with her two children in Ulaanbaatar, the capital city of Mongolia. She and her children live together in a ger, a traditional Mongolian nomadic home tent. Her oldest daughter is a university student and her youngest son attends high school. Her husband has been living and working in the USA for the past 6 years.
Uranchimeg operates a bag trading business in the Sunday Plaza trade center. She sells a variety of quality products such as bags and towels that are imported from Bejin, China, out of a rented stall. She is a modest, well calculating and responsible woman. Uranchimeg is requesting a 3,000,000 MNT to purchase more varieties of bags.
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.