Enh-Amgalan B. is a 42 year old widow with three children, who are ages 3, 7, and 21. Her youngest two children are attending a kindergarten, and the eldest daughter is working in South Korea. It is common in Mongolia to go to South Korea for a better paying job.
Her family lives in her brother's condominium in Ulaanbaatar, the capital city of Mongolia. In 2002, Enh-Amgalan started selling men's and women's shoes at the Narantuul, the biggest outdoor market in Ulaanbaatar. Her eldest daughter helps her mother, brother, and sister as much as she can by sending a small amount of money from her salary every month.
With this loan, Enh-Amgalan is planning to buy more shoes to increase her business inventory. Her hope is to have her own place to live and she is working hard to buy a home. She also dreams of seeing her children graduate from university.
About XacBankThis 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.
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