Javzmaa S. is 37 years old and lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. Her husband works as a policeman while their elder two children attend a local middle school.
Javzmaa operates a children's clothing retail business from a stall at Narantuul-a, the biggest and most crowded market in her town. She sells a variety of different clothing items and accessories and her wide product selection attracts many customers.
Javzmaa started her children's clothing business in 2003. After finding success and achieving stable business operations, she expanded her product line to import women’s clothing from Ereen, a city on the border with China. This product expansion has proved to be a very profitable decision. Today, she is able to hire a salesperson who helps with her business.
Javzmaa is a very open-minded and sociable woman and is well-known to her customers. For the future, she says, "I would like to save money for my sons’ future, because I really like the creating savings". She is requesting a 2,000,000 MNT loan to purchase more children's and women's clothing items 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.