Maigul is 40 years old and lives with her husband and three kids in a ger (a Mongolian yurt) in Bayan-ulgii province, Mongolia. Her husband helps with her business, her eldest daughter is a college student and the younger two are school students. She started her garment retailing business in 2002. Now, her daily income is 100,000 MNT. Now that winter is approaching, she needs more warm clothes to retail. She is a sharp and hardworking woman who says, "Since my business is the only income to the family, I have to do everything I can in order to support my children". She is requesting 3,000,000 MNT to buy more garments.
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.