Oyumaa is a 41-year-old woman who lives with her husband and 3 children in Umnugovi province in Mongolia. Her husband is employed and their 3 children study at the secondary school.
Oyumaa opened a small food store in 2011 near to her home. The income has been raised more because the store is on the way of domestic and foreign tourists. She plans to grow the business further. Oyumaa has been raising the family income and improving the household. She is a hardworking woman who says that "I would like to develop the business activity by purchasing the food supplies in large amounts from the capital city. I am planning to increase the income, preparing my child's college expenses." The total amount she is requesting is 3,000,000 MNT to purchase more food supplies for her store.
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.