Ariuntuya is 28 years old and lives with her husband and son in a ger (Mongolian yurt) in Sansar Area, Ulaanbaatar, the capital city of Mongolia. Her son who is 6 years old goes to a kindergarten while her husband manages a taxi service business. She conducts a hair salon at a rented apartment. She started her business in 2007 and gained much experience. Recently she bought a plot of land to build a house for her family. She is a polite woman who says, "I want to finish construction work of my house soon." She is requesting a 2,000,000 MNT loan to increase her working capital and to buy construction material for her house.
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.