Otgontuul is 40 years old and lives with her three children in an apartment in the Sansar area of Ulaanbaatar city. Her grown-up older daughter lives independently while the younger three attend college and secondary school separately. She manages a used clothing trading business with the help of her second daughter. She started her business in 2005. During winter times, she sells all kinds of coats and jackets and during summer time, she sells shirts, pants, socks and hats etc. She imports her products from Ereen, a border city in China. For the last few years, her business has flourished immensely and she is planning to rent one more stall. Now she earns 150,000 MNT daily and her working capital exceeds 10 million MNT. She is a hardworking and responsible woman who says, "I use my received loans profitably and is planning to receive loans in the future. Now I want to buy one more stall for my son." She is requesting a 3,000,000 MNT loan to purchase a new stall for her son.
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.