Odonchimeg is 45 years old and lives with her husband and son in Bayanhongor province, Mongolia. Her husband is a head accountant in a local company and her son is a school student. She started her garment retailing business in 2008 by quitting her old job as a teacher in secondary school. Even though she is fairly new to the business, she is known for her high-quality and stylish clothes.
Now that winter is approaching, she needs to sell warmer clothes. She is a bright and hardworking woman who says, "It is my mission to get my son educated." 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.