Ganhuyag C. is a 46- year- old single mother who lives with her two daughters in Ulaanbaatar, the capital city of Mongolia. They live in a ger, a traditional Mongolian nomadic tent. Ganhuyag operates a clothing making and repair business in a rented basement and sells out of a stall at Narantuul, the biggest market in the city. She and her sister started the business in 1994 and since then, she has been gaining much experience in the business and the variety of products has been enlarged earning a good profit. Ganhuyag has found success in her operation and has used her earnings to support her family. Ganhuyag is an honest and hardworking woman who hopes to continue her success by growing her business and employing two tailors at the workplace in the future. She is requesting a 1,500,000 MNT loan to purchase two sewing machines and more material for 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.