Myangantsetseg B., 26, lives with her mother and sibling in Arhangai province, Mongolia. She and her family live together in a ger, the Mongolian traditional nomadic tent.
Myangantsetseg operates a business selling jeans in her town. Initially, between 2006 and 2008, she started selling a variety of clothing that she purchased from Ereen, a Chinese border town. Since 2008, after those first two years, she has been selling only jeans. She operates her business at a rented counter at a shop called Tansag (Luxurious).
Myangantsetseg is a very hardworking person who has been working hard to provide a better life for her sibling and mother. She has used the profits from her business to pay her sibling's tuition fees as well as the tuition for her own Master's degree program. Her mother is a hairdresser and earns between 50,000 and 60,000 MNT per month.
Myangantsetseg is focused on the future and says, “Now, the most important thing to me is to graduate from the Master’s program in which I am studying. In addition, I would like to enlarge my current house for me and my family.”
Myangantsetseg requested a 1,600,000 MNT loan to purchase a variety of jeans from Ereen, China.
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.