Erdenetsetseg is 46 years old and lives with her husband and two daughters in Ulaanbaatar City, Mongolia. Her husband runs a woolen clothes manufacturing business, her elder daughter is studying in Malaysia, and the younger one is studying in China. She used to work with her husband at his manufacturing business, but in 2010, she started her own garment retailing business by renting two counters in the biggest market in Mongolia. She is a sharp and hardworking woman who says, "Now that my kids are studying abroad, I need to expand my business in order to support them." She is requesting MNT 1,500,000 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.