Sambalhundev is 63 years old and lives with her husband in a four-room apartment in Govisumber province of Mongolia. All five of her children are living separately. Her husband works as a controlling engineer at a construction agency.
Sambalhundev started her business activity about one year ago. She operates a clothes trading business. She expanded her commercial space at the local market. Currently she has goods and materials that are worth 1,000,000 MNT. She is planning to have many commercial counters at the market. She takes loans from our bank and asks for discounts regularly. She is requesting a 600,000 MNT loan to purchase more clothes and to expand her business activity.
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.