Unathan T. is 36 years old and lives with her husband and three sons in Hovd province of Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent. Her two sons both attend a local secondary school. Her husband and Unathan operate a clothing trade business in the two different local markets in their town. They sell a variety of clothing items that are imported from China. They started their business in 2000 and have since built a stable and successful operation. After many years, they were able to buy a small plot of land where they built a house. Next year, they plan to improve their car and fix the ceiling of their house. Unathan is a clever and hard-working woman. She is requesting a 2,000,000 MNT loan to import more clothes from China in order to increase their volume.
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.