Gereltuya N. lives with her son and parents in their own apartment in Baganuur, an outskirt district of Ulaanbaatar, Mongolia. She operates a consumer goods and clothing retailing business. She began her business in 2005 at a trading stall.
Gereltuya sells a variety of women's clothing and her products are well-known for their quality and design. She is the kind of person who is hardworking and modest and wants to increase her business revenues.
Gereltuya is requesting a 2,500,000 Mongolian tugriks loan in order to purchase more clothing in Beijing, China, at wholesale prices.
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.