Altantsetseg is 49 years old and lives with her husband and only daughter in Hovd province, Mongolia. They live in a ger, a Mongolian traditional nomadic housing tent. Her husband operates a taxi service business, while her daughter works at Khaan Bank, which is one of the largest banks in Mongolia.
She manages a clothing trading business at a rented stall at a local market. She started her business in 2009. Since then, her business has become stable and she has gained lots of experience. She also used to conduct a second-hand clothing trading business. She is a polite woman who wants to increase her business sales. She is requesting a 1,100,000 MNT loan to import a variety of clothes 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.