Enebish D. runs her own tailoring business that she started in 2001. She lives with her two sons, ages 7 and 11, and mother in a ger (nomadic housing tent) district on the plot of land she owns in Arhangai province in central Mongolia. In 2006, Enebish expanded her business by selling second-hand clothes at the local market. She purchases and imports used clothing from South Korea. She currently pays 10,000 tugrugs (aprx. 7 USD) per kilo of clothing she imports, then resells each item individually at marginally higher prices. Enebish says that, "Many poor and vulnerable people live in my province. A large portion of my customer base comes from this group of people. Since second-hand clothes are cheaper than new clothes, they sell quicker." She is requesting a loan to purchase more clothes for her inventory. In the near future she is planning to import and sell new clothes through her business.
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.