Munhsuren D. is 53 years old and lives with her husband and two sons, ages 25 and 20, in a house in the Uvurhangai province of Mongolia. Her youngest son attends university while her husband works as a driver for a company in Ulaanbaatar, the capital city of Mongolia.
Munhsuren has a fabric store, selling a variety of materials by the meter. She began her private business by operating a retail clothing business in a rented stall at Anduud, one of the big trade centers in Ulaanbaatar. After that, she started to sell second-hand fabrics in a local market of her town.
Munhsuren has been running her current business since 2007. Depending on her sales, she purchases her inventory products 1-3 times a month. She is a very hard-working woman. She hopes to continue her business with sustainable operations and to have her own big shop. Munhsuren is requesting a 3,000,000 MNT loan in order to purchase a large amount of fabric at a wholesale price from Ulaanbaatar 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.