Jargalsaihan is 42 years old and lives with her husband and three sons in Uvurhangai province, Mongolia. She and her family live in a Mongolian traditional nomadic tent called “ger”. Her second son, Ganbaatar, attends university and her youngest son, Ganbyamba, goes to a local high school.
Jargalsaihan operates a clothing retail business in her town with the help of her husband. They sell a variety of clothes that are imported from China. She started her business in 2003. At first she ran her business by herself, but after a while her husband began to help which resulted in an extensive increase in their business. They are well known amongst the neighboring residents because of their high quality and stylish clothes.
For the future, they are planning to expand their product line and build an even stronger customer base. Jargalsaihan is an open-minded lady with good personality. She says, “I am working hard in order to better my children's life.” She is requesting a 1,000,000 tugrug loan to purchase pants, boots, etc., to sell this winter.
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.