Saranhuu is 43 years old and lives with her husband and four children in Hovd province, Mongolia. Her husband Baynnamsrai operates a taxi service in their town. Saranhuu operates a clothing trading business at a local market. She sells a variety of clothes out of a rented shipping container. Furthermore, Saranhuu purchases her products in cooperation with other local clothing traders in order to share high transportation costs and reduce expenses. She started her business in 2001, and has gained much experience over the years. She has a loyal customer base because of her great communication skills and her good selection of products. Saranhuu is a great businesswoman who has been trying to build a bright future for her family. She says the most important thing now is to be able to purchase her own shipping container for her business. She is requesting a 2,500,000 MNT loan to purchase summer clothing for the upcoming warm season.
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.