Munhtuvshin is a 41-year-old woman who lives with her husband and 3 children in the capital city of Mongolia. Her husband operates a tire repair center. Her children study at the college and high schools.
Munhtuvshin has been running a garment retail business for 9 years. She trades the garments to the people when they are at their work. She has a small van which she uses for the garment business. She is a diligent woman who says that "My husband planning to open new tire repair center. We want to develop our business and so we need new equipment. If we could do it, we would continue our business successfully." The total amount she is requesting is 1,300,000 MNT to purchase new equipment for her husband's business.
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.