Javzmaa is a forty-year-old woman who lives with her husband and seven children in Selenge province in Northern Mongolia. Her husband works as a driver for a private company. Her seven children study at college, high school and kindergarten.
She has been running a garment retail business since 2001. She brings her supplies from China and trades them at the well-positioned shop counter. She has made a number of regular customers in the village. She has a plan to expand the business activity further.
Javzmaa is a good-natured woman who says, "I would like to expand the business activity by purchasing the supplies in large quantities, so that I would not waste money for the transportation expenses and could save for my children." The total amount she is requesting is 1,800,000 MNT to purchase the 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.