Regzenlham is a 57-year-old woman who lives with her daughter in the Arhangai province in Central Mongolia. Her daughter studies at the college. She started a business in the chalk industry in 1998. She expanded the business by selling beauty products in 2008. These two business activities are the main income sources for her and her daughter. She is trying really hard to continue the business successfully. She needs to pay for her daughter's college and other expenses by having successful business activities.
She is a humble woman who says,"I would like to request this loan to expand the business by purchasing the necessary materials for my beauty supply business." The total amount she is requesting is 2,500,000 MNT to buy beauty 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.