Horoljav D. is 66 year old, She lives with her son in Hovd Province in Mongolia. She and her son live in a ger, a yurt or traditional Mongolian nomadic tent.
Horoljav operates a retail clothing business at the local market. She started her business in 2008 and has since built a stable operation. Her son helps her with the business. In the future, she hopes to expand her business and increase her product line in order to attract more customers. She is requesting a 1,300,000 MNT loan to purchase more winter clothes to sell at her stall.
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.