Yanjmaa, 40, is married and lives with her husband and four children in Uvs province of Mongolia. They live in a ger, a Mongolian nomadic housing tent, on a small plot of land that they have owned for the past five years. Her older daughter attends college and the other three children go to a local secondary school.
Yanjmaa makes clothes at home. She began exporting her handmade clothes and other consumer goods to Russia in 1997. She has gained much experience by running her business and built a good reputation among her customers. Her business revenues are much more stable now. Her husband helps her with the business and they are planning to have their own stall at the local market in the future. She is a hardworking and honest person. She is requesting a loan of 3,000,000 tugriks to purchase clothes and materials from China.
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.