Huvsguldalai is 24 years old and lives with her family in a ger, a Mongolian yurt, in Huvsgul province of Mongolia. Her husband works at construction sites during the summer. Her two sons attend kindergarten. She started selling clothes in June 2011 at the local market. She buys all her clothes and goods from China. She is planning to improve her business and diversify her products range. She is a hardworking and energetic woman who says, "This business is very competitive and I am a newcomer to this. I am doing my best to set my business apart from the competitors." She is requesting a 2,000,000 MNT loan to buy winter clothes to increase her turnover capital.
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.