Mrs. Oyun-Erdene is 41 years old and lives with her husband and four children in their small house in Arkhangai province, Mongolia. Her husband Hurel-Ochir is a herdsman, farming their livestock in the countryside. Her oldest child is 22 and helps his parents at home and the younger three children study at a local secondary school.
Oyun-Erdene moved to the province center in 2007 with her family and started her business selling livestock intestines and other edible parts in the local market. She is a hardworking and helpful woman who is now requesting a loan of 1,500,000 MNT to purchase inventory in a large quantity to sell at her counter.
Mongolians cook intestines and other edible parts of the livestock because it is affordable.
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.