Ochir is a fifty-three-year-old woman who lives with her husband in Hovd province in Western Mongolia. Her husband is retired and her daughter studies at the college in the capital city. She has been running a food retailing business since 2009. But she has more than ten years experience of running a business.
Due to the approach of the biggest festival, she would like to expand the business by getting her supplies in large quantities. Ochir is a good-natured and diligent woman who says that "I would like to expand the business by getting candies in large quantities and in different sorts so that I can improve our livelihood and pay for my daughter's college fees".
The total amount she is requesting is 1,500,000 MNT to purchase candy from Bayan-Ulgii province.
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.