Togtohbileg, 36, is married and lives with her husband and four children in Bayanhongor province, Mongolia. Her husband stays at home due to health problems. For the past three years, the family has been living in a ger, a Mongolian nomadic housing tent, in her father's backyard.
Togtohbileg's family used to herd livestock in the countryside before they came to the city in 2009. Togtohbileg started her retail trading business in 2010 and now operates a clothing trading stall at a local market. She started her business with working capital of 1,500,000 MNT and it now exceeds 2,000,000 MNT. She is a modest person who says, "It was not long since I started my business that I wanted to expand it and make a constant source of income and fulfill my future goals." She is requesting a loan of 1,000,000 MNT to purchase more clothing from China 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.