Davaasuren is a 27-year-old woman who lives with her husband and a son in Uvs province in Western Mongolia. Her husband works as a teacher and their son is 4 years old. She works as a teacher at the secondary school. But in the summertime, from June to September, she has no job; therefore, she runs a garment retailing business. She has researched the business and planned all the staffing. Her sister is helping her to run the business successfully. She is importing the goods from China and selling them at the newly opened trade center. The products she imports provide many advantages and options for her customers.
Davaasuren is a good-natured woman who says, "I would like to expand the business activity by buying the merchandise in large quantities and in different styles so that I can save for my son and improve our household." The total amount she is requesting is 1,800,000 MNT to buy 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.