Ganchimeg is 37 years old and lives with her five children and husband in a ger, Mongolian yurt, in Tosontsengel province of Mongolia. Her eldest daughter is a college student and another three are high school students. She started her business in 2001 by making and selling Mongolian traditional shoes at her home. She has already gained recognition from her clients and customers. She is planning to expand her business in the future. She is a hardworking and diligent woman who says "Our family has a college student. I want to pay the tuition fee to the university. Also I have a plan to expand my business and open a factory." She is requesting a 1,000,000 MNT loan to buy materials to make shoes.
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.