Handaa is 48 years old and lives with her children and husband in a ger (traditional nomadic tent-like dwelling) in the Hovd province of Mongolia. Her husband is a taxi driver. Her eldest daughter is a college student and the others are in high school. She started her business in 2004 by selling foods and other things on a mobile cart in her hometown. Now, she has her own commercial space where she sells her products. She has many years of business and work experience. She is a diligent woman who says, "I want to expand my business and then buy a container so that I can sell my goods and products easily." She is requesting a 1,800,000 MNT loan to buy products in bulk at the wholesale price.
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.