Bolormaa is 37 years old and lives with her son in a ger (Mongolian yurt) in Dornod province, Mongolia. Her son is a college student. She started her garment retailing business in 2006 by renting a counter in a market. Over the years, she has gained many regular customers and trusted suppliers. Her products are known for their designs, quality, and affordable prices. Bolormaa is a sharp and hardworking woman who says: "It is hard to pay my son's college fees with my current income. I have to broaden my range of products in order to pay my son's college fee." She is requesting 2,200,000 MNT to buy supplies of clothing.
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.