Handmaa is 60 years old and lives with her daughter in a ger, a Mongolian yurt, in the Uvurhangai province of Mongolia. Her daughter helps with her business. Handmaa started her garment retail business in 1993 by renting a counter in a market.
Over the years, she has gained many trusted suppliers and regular customers. She is known for her highly fashionable and relatively low-priced products. She is a bright and hardworking woman who says, "It's been a little hard since my husband passed away. However, for my daughter's sake, I will not give up." Now that her demand is increasing, she is requsting 3,300,000 MNT to buy supplies.
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.