Manaljav is 28 years old and lives with her two sons and husband in a rented apartment in Govisumber province, Mongolia. Her husband works at the local gas station. Her eldest son is a high school student and her other son goes to kindergarten.
Manaljav worked as a salesperson at a local store from January to May 2011. From May 2011, she started her own business by renting a commercial space at the local market and selling clothes and shoes. She is planning to specialize her trading business in shoes. She is a diligent woman who says, "If my husband becomes a full-time employee at the gas station, our income will increase and we will go for an apartment loan." She is requesting a 2,000,000 MNT loan to buy shoes 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.