Nyamaa is 42 years old and lives with her husband and two children in a ger, Mongolian yurt, in Huvsgul province of Mongolia. Her two children, age 17 and 19, both attend local secondary school. Her husband is a carpenter who makes many kinds of household goods such as beds, tables, and chairs, etc.
Nyamaa manages a clothing trading business at a rented stall at a trading center. She started her business in 2008 after moving to center of the province. Previously, she was a herder with some husbandry animals. However, because of bad winter weather, she lost all her husbandry animals. So she decided to conduct her clothing trading business. Now she has many regular customers and imports her goods from China. She is planning to rent a booth where the sales are quite high. She is a hardworking lady who says, "I am planning to expand my business in the future." 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.