Lhamhuu is 48 years old and lives with her children and husband in the Hovd province of Mongolia. Her husband works as a pastor at the local Christian church. Her eldest daughter is a college student and the others are in high school. She started her business in 2009 by selling second-hand clothes. She used to rent a small commercial space at the local market but now she has extended the commercial space. She plans to continue her business in the future. She is a diligent woman who says, "Having a bigger commercial space really helps your business and increases your profits." She is requesting a 2,000,000 MNT loan to buy 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.