Ariunbileg H. is a 36 year old single mother with a 13 year old son. She lives with her mother and son in a ger, a traditional Mongolian nomadic home tent, in Bayanhongor province of Mongolia. Her son attends a local secondary school. Her mother is retired and has a monthly pension of 108,000 MNT while she also receives a disability pension of 81,000 MNT due to a kidney disorder.
Ariunbileg operates a clothes and cosmetic products retail business in her town. She sells a variety of different clothing items that are imported from Erlian, China's border city, and cosmetic products. She started her business in 2007 selling only a variety of cosmetic products, after working as a cook between 2002 and 2006. After finding success and achieving stable business operations, she started her second business of selling clothing items in 2009.
For the future, she says, "I would like to expand my business and increase my product line by offering more different kind of products with good quality to my customers. And I want to buy my own apartment." She is requesting a 3,600,000 MNT loan to purchase more cosmetic products and import more clothing items in order to increase her working capital for both of her trading businesses.
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.