Siilegmaa, 40, is married and lives with her husband and two children in Hentiy province in Mongolia. Her husband drives a taxi and her two children attend a local secondary school. They live in a regular house and have a decent standard of living.
Siilegmaa began a clothing trading business in 2006. In the beginning, she sold clothing at a trading center, but now she rents a stall at a local outdoor market. Her daily net income is 60,000-80,000 MNT, which goes up to 100,000-120,000 during special days like public holidays. Her husband's daily net income is 10,000 to 15,000 MNT. Both of them have regular customers and now they have two vehicles, a truck and a car.
Siilegmaa's current working capital is 2,500,000 MNT and she wants to expand it in order to buy an apartment. She is a hardworking and honest person. She is requesting a loan of 3,000,000 MNT to purchase more clothing for her business and buy spare parts for her husband's car.
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.