Mrs. Nyamaa is 54 years old and lives with her husband in an apartment in Baganuur district of Ulaanbaatar, Mongolia. Her husband, Oyuntungalag, aged 57, works as a driver at a local company. The borrower's children have gotten married and live separately. She has been running a used shoes sales business in a rental place. She has gained a lot of experience and built close relationships with suppliers. She is now requesting 1,500,000 MNT to purchase used shoes from suppliers to sell to local customers. She is a hardworking, helpful and friendly woman.
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.