Munh-Amar, 39, is widowed and lives with her daughter in Selenge province of Mongolia. Her daughter attends a local secondary school. Munh-Amar's husband passed away two years ago and her daughter helps her with everything that she can. Munh-Amar used to work as a tailor between 1992 and 1995 and worked for a pharmacy between 2002 and 2003 . Then she worked as a salesperson for her sister's stationery store between 2003 and 2004 in Ulaanbaatar, the capital of Mongolia. Then she moved to her current place to live close to her siblings. She started to sell clothes in 2005 and has been operating her business for about six years. Now she operates two stalls and pays 45,000 MNT for monthly rent. She is one of our regular bank customers. She is a hardworking and honest person. She is requesting a loan of 1,500,000 MNT to purchase more clothing in order to increase her working capital.
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.