Munhnaran, 26, is married and lives with her husband and two children in Ulaanbaatar, the capital of Mongolia. They have a decent standard of living and they live in a house that they own in her sister's backyard. Her two children go to kindergarden. Munhnaran has worked as a knitter for a company between 2009 and 2010. Then she began to make clothes at home in 2010. Now she is operating a knitting and clothing manufacturing business in her home. She wants to expand her business and have her own workshop. She hopes to hire unemployed people to offer them a chance as well. She is an honest and modest person who says, "I would like to expand my current business and make more profit in order to save money for my sons' future education. I want them to go to college and get good education". Munhnaran is requesting a loan of 900,000 MNT to purchase materials for her clothing sewing 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.