Erdenetsetseg C. lives with her mother and younger sister in Arhanghay, one of Mongolia's central provinces. During the last few years, the importation of cheap clothes from Ereen, China has become a lucrative business for locals in Arhanghay. Ereen is a Chinese border town where many small business owners travel to import cheap products for resale at their local markets.
Erdenetsetseg started traveling to Ereen in 2006 to buy cheap, quality apparel for women and men. While she is away her sister, Chuluuntsetseg, runs the stall. In the future, she hopes to expand her business and diversify her products. She requests a loan to purchase more apparel from Ereen, China.
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.