Javzanpagma D. is a 50-year-old single mother. She lives with her two daughters in a ger, a traditional Mongolian nomadic home tent, in Ulaanbaatar, the capital city of Mongolia. Her oldest daughter is a university student while her youngest daughter attends a local high school.
Javzanpagma operates a women's clothing retail business from a stall at Night's Market, the only market that opens at night. She started her women's clothing business in 2005 and has built a stable and successful operation. Today, her working capital exceeds 1,300,000 Mongolian tugriks (MNT) and she has daily average profits of 50,000 MNT.
Javzanpagma says, "All I want is to provide (a) nice and healthy life for both my daughters."
She is requesting a 1,000,000 MNT loan to purchase more women's winter clothing items in order to increase her sales and profits.
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.