Enhtsetseg M. is a single mother who lives with her son in Ulaanbaatar, the capital city of Mongolia. She and her family live in a ger, which is a traditional Mongolian housing tent. Her son, age 16, attends university in a foreign country. Enhtsetseg operates a clothes retail business in the city. She has engaged in this business since 1996 and has built up a stable and successful operation over many years. In the future she hopes to continue to operate her business at a sustainable level. She plans to buy a large amount of clothing items at wholesale prices in order to sell those items as a retailer in December. She is a modest and hardworking woman. She is requesting a 3,500,000 MNT loan to purchase and import winter clothes such as suits, coats, outerwear etc from China in order to increase her working capital 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.