Gunjilmaa is 32 years old and lives with her parents in a house in the Sansar area of Ulaanbaatar city. Her parents usually live in the countryside and visit their daughter once a month. She manages a clothing trading business at a rented stall at Hantalst trading center. She started her business in 2008 and gained much experience. Since then, she has been able to rent one more stall where she sells a variety of hats for all ages. Now she is planning to expand her business and to rent one more stall again. At her new stall, she is going to sell collections of bags and purses. Her parents are very supportive of her business. She is a polite and kind woman who says, "I want to purchase more inventories in order to sell them this coming fall. The reason is that students will come to Ulaanbaatar city to enroll to their studies." She is requesting a 1,500,000 MNT loan to purchase bags, hats, pants and socks etc.
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.