Manat is widowed and a loving mother of three. Her elder two kids are college students and the youngest one goes to kindergarten. She started her garment retailing business in 2006 by renting a counter in the local market. Now that winter is approaching she needs to buy more warmer clothes to resell. She is a sharp and diligent woman who says, "It has been hard since my husband died. I try everything to support them and I will not rest until my kids get educated and independent." She is requesting MNT 1,000,000 to purchase more clothes.
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.