Avirmed B. lives with her husband and daughter in Ovorhanghay, one of Mongolia's central provinces. Avirmed has a small business selling clothing at the local market. She started the business in 2000 by selling clothes such as jeans, shirts and belts. Recently, she has been specializing only in women's and men's jeans due to their popularity and profitability. She purchases jeans from Ereen, a Chinese border town where many products are imported, and sells them for a profit in a stall that she rents at the local retail market. In the future, she hopes to have her own shop where she will be able to sell a greater variety of products. She requests a loan to purchase more women's and men's jeans from Ereen.
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.