Y. Norovsambuu lives with her husband and son in the Bayanzurh district of Ulaanbaatar, the capital city of Mongolia. Her son goes a local kindergarten. Y. has a small retail business selling clothing at the "Bombogor" shopping mall, one of the more popular shopping malls in the city. Y. started her clothing business in 2007 when she learned that there was a high demand for cheap, quality clothing from Beijing, China. She often travels to Beijing, China to purchase non-brand, quality clothing for women and men at bargain prices. She is very fashionable and knows well what kind of trendy clothing Ulaanbaatar's young men and women would like to wear. With her extra profit, she hopes to open a saving account for her only son. She requests a Kiva loan to purchase more clothing from Beijing to increase her business inventory.
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.