Namsraijav D., 52, is married and lives with her husband, son and daughter in Ulaanbaatar, the capital of Mongolia. They live in a ger, a Mongolian nomadic housing tent, in someone's backyard.
Her husband is unemployed and her son has a health problem because of a car accident. They used to live in an apartment and sold it to help their son go to work in Korea. Their son had a car accident when he came back from Korea.
Namsraijav began selling women's lingerie in 2003 and operated two stalls that she owned. Then she had to sell one of her two stalls when her son had the accident.
Now her son is getting much better after a long treatment and she wants to operate her business properly. Her current stall is located at a crowded market. Her daily gross income is 80,000 MNT and her current working capital exceeds 3,000,000 MNT. She goes to China once or twice a month depending on the sales.
She is requesting a loan of 3,500,000 MNT to purchase more items to sell in her business, and also to repair her ger.
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.