Enhchimeg is 29-years-old and lives with her husband and a child in a ger (Mongolian yurt) in the Darhan-Uul province of Mongolia. Her husband is a construction worker and her daughter is in kindergarten.
She started her garment business in 2010 by purchasing a counter in a local market for 450,000 MNT. Now her current assets are 800,000 MNT. Even though she is fairly new to the business, 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, "I have a plan to expand my business and to increase my income." She is requesting a 2,000,000 MNT loan to purchase caftans and slippers.
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.