Munhgerel is 36-years-old and lives with her parents in a ger, a Mongolian yurt, in Suhbaatar Province of Mongolia. Her daughter is in kindergarten. She started her business in 2004 by renting a counter in a local market to sell clothes. She is very well experienced in her business and her current assets are 2,000,000 MNT. She has many regular customers. She is a hardworking and diligent woman who says,"I want to expand my business and one day I will open my own store." She is requesting 800,000 MNT to buy more clothes from Erlian.
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.