Erdenesolongo is 26 years old and lives with her daughter and parents in a house in Dornod province, Mongolia. Her daughter is five years old and attends kindergarten.
Erdenesolongo manages a clothing-trading business in her town. She started her business in 2010.
Before she started her clothing business, she used to conduct a grocery-trading business at a rented booth. Back then, her business was unprofitable and stagnant. So she decided to start a mobile clothing-trading business in her town.
First she collects her customer's orders and then she brings the products. This kind of business is quite profitable in her town. She managed to build a house with her earnings a year ago.
She is a polite and hardworking lady who attributes her success to her good communication skill. She is requesting a 2,000,000 MNT loan to purchase more clothes for her 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.