Munhshur is 23 years old and lives with her mother and sister in a ger, a Mongolian yurt, in the Bayanhongor province of Mongolia. Her mother works in a health organization and her sister is a college student.
Munhshur started her garment retail business in 2008 by renting a counter in the market. Her business has been sustainable ever since. Now that winter is arriving, she needs to buy warm clothes to sell. Therefore, Munhshur is requesting a long for 600,000 MNT, wich she will use to buy winter clothing. She is a bright and diligent woman who wants to open a store in the future.
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.