Sarantuya, 33, is married and lives with her husband, father-in-law and two children in their own ger, a traditional nomadic housing tent, in Ulaanbaatar, the capital city of Mongolia. Her husband works as a mechanic for the military base, her children attend a kindergarten, and her father-in-law helps to take care of the children.
She began her clothing business in 2008 from a rented stall in a crowded shopping center. As her business expanded, she opened a second stall at another location in the same shopping center. Her daily average sales are between $41 and $82, and her working capital is now 1,000,000 MNT. Sarantuya is an open-minded and hardworking businesswoman. She is planning to buy a car that would be helpful in her business.
She is requesting a loan of 1,000,000 MNT to purchase a wider variety of goods in order to expand 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.