Myagmarsuren is 42 years old and lives with her husband and three children in Hovd province in Mongolia. She and her family live together in a ger, a traditional Mongolian housing tent. Her oldest daughter is a university student and her younger two sons are attending a local school. Her husband works for the thermal power station during the winter months and operates a construction business during the summer months to supplement his family income.
Myagmarsuren operates a meat trading business in her town. She started her business in 2006 and has become very experienced in her trade. Her working capital has decreased due to the rise in the price of meat. Therefore, she plans to use this loan to purchase a large amount of meat at cheap prices and resell them during the spring months when prices for such products are higher.
Myagmarsuren is a hardworking and modest person and says, "I plan to build my own house for my family in my fence by next year". She is requesting a 1,500,000 MNT loan to purchase three cows at a cheap price for her meat trading business.
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.