Odongerel B., 39, is married and the mother of three children. She and her family live together in an apartment in Ulaanbaatar, the capital city of Mongolia. Odongerel operates a jean selling business with her husband at a Narantuul, the largest market in Mongolia. They have been operating their business since 2002, and have steadily expanded their business over the past eight years.
Odongerel and her husband gained much experience in previous years and have built a loyal customer base. Her monthly revenue is 300,000 – 500,000 MNT. Her profit is in 40 – 50%. Odongerel plans to expand her product line in the future. With her last two years' profit, she purchased a car for her family. She is a responsible person who has paid her loans on time in the past. Odongerel is also a very hardworking person. She plans to provide higher education for her three children in the future.
Odongerel is requesting a 3,500,000 MNT loan to purchase more jeans from China in order to sell them at Narantuul market.
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.