Togtbayar is a 43-year-old woman who lives with her husband and only daughter in a ger, a Mongolian traditional nomadic housing tent, in Hovd province, Mongolia. Her husband is a welder who works at home. Her only child, who is 6 years old, attends kindergarten.
She owns a clothing-trading business in her town. She started her business in 2000 at a rented container in a local market. Through her hard work, she managed to buy her container in 2008 and expanded her business. Before that, she worked as a salesperson at someone else's stall and gained much experience.
Now she sells all types of clothing such as hats, skirts, T-shirts and socks at her container. She is an honest woman who says, "I want to have my own house in (the) near future."
She is requesting a loan of 2,000,000 Mongolian tugriks (MNT) to purchase more inventory for her clothing 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.