Pagamtsogsmaa S. is 29 years old. She lives with her husband and 3-year-old daughter in their own house and fenced lot in the Uvurhangai province of Mongolia. Her husband is a record clerk in the Governments Department and her daughter is in kindergarten.
Pagamtsogsmaa operates a small grocery trading business in her town. She started this business in 2007 by selling a variety of consumer goods out of a rented stall at the local trade center. She has found a success with her business in a short period f time, and since 2010 has opened her own grocery shop and hired one employee.
In the future, Pagamtsogsmaa plans to expand her business by increasing her product line. She wants to pay back her loan quickly. She is a hardworking and modest woman.
Pagamtsogsmaa is requesting a 3,000,000 MNT loan to purchase grocery products in order to increase her inventory.
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.