Tumenjargal is a 47-year-old woman who lives with her husband and two sons in Uvurhangai province in Central Mongolia. She and her husband have run a transportation service with their own minibus since 2007. Before the business, she used to work in a public transportation company, so she is very experienced in her field.
Her transportation route is very profitable. However, her minibus is old and rusty so no one wants to sit in her minibus. Therefore, she needs to maintain her minibus. She's requesting 2,500,000 MNT to purchase spare parts for her minibus. She's a strong and sharp woman who says, "Now that my son joined a college, I need to increase my income in order to support him."
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.