Javzanpagma B. is 36 years old and lives with her husband and two children in Arhangai province in central Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent home. Her two children, ages 12 and 15, both attend a local secondary school, while her husband is a carpenter and produces a variety of wood products in their home. Javzanpagma has been operating a household goods trading business at the local market in her town since 2010. For the future, Javzanpagma hopes to expand her business and have her own shop. She is a very hardworking and friendly woman. She is requesting a loan of 1,500,000 MNT to purchase more products to sell.
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.