T. Chantsal is a widow and lives with her three children in Uvurhanghay, one of Mongolia's southern provinces. Her two daughters both study in a local college and secondary school.
Chantsal moved from the Selenge province with her family in 2006 after her husband's death. Since the move, she has been running a small business selling clothes. In 2008, she rented a small stall in the local clothing market and started selling women’s and men's clothing.
Chantsal usually purchases clothing from Ereen, a Chinese border town from which many products are imported. She travels to Ereen to buy her inventory once or twice a month, depending on her sales volume.
Chantsal’s hope is to see her daughters finish college without any financial strain. She has always dreamed of making her own clothes instead of reselling others’. She requests a loan to purchase more clothing 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.