Munhtsetseg is 50 years old and lives with her husband and two kids in a ger (Mongolian yurt) in Bulgan Province, Mongolia. Her husband is an engineer in a mining company, her elder son is a CEO of a small company and the younger one is a clerk in the market. She started her clothes trading business by renting a counter in the local market in 2009. She started her business by retailing Chinese products now she retails Korean products as well.
Now customers want more high quality expensive products and she needs to meet the customers' demand in order to keep up with them. She is a sharp and hardworking woman who says "I have done everything I can to support my kids. Now that they are old enough, it is time to expand my business". She is requesting a 1,600,000 MNT loan to buy 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.