Enkhsaikhan S. is a 28-year-old businesswoman who operates a clothing business at the local indoor market.
Although, she graduated from college, Enkhsaikhan did not have a chance to work in her chosen field because she needed to care for her baby. Her husband is the head of the marketing department for a local commercial bank. Because the young family doesn't have enough savings to buy their own home, they currently live with Enkhsaikhan's parents in their apartment.
In 2004 Enkhsaikhan started her business and, thanks to her energetic and enthusiastic nature, her business has grown steadily, thus enabling her to have a second stall which her mother helps her run. Her working capital now exceeds five million tugrugs (~3,450 USD) and her monthly net profit is between 210-270 USD. Once a month she buys goods from Beijing, China. She is very good at keeping daily records, and says "My plan is to have my own home."
Enkhsaikhan requests a 1,300,000 tugrugs loan to purchase more supplies so as to expand 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.