Yanjmaa is a 60-year-old widowed woman who lives with her 8 children in Dornogovi province, Mongolia. Her children live independently. She moved to the city after she worked as a P.E teacher. Then she started a garment retails business in 2003 with her son. Her son purchases the garments wholesale from China. She stays at the shop counter. The business has been successful because they rent a counter at the biggest trade center at the district. Yanjmaa is a diligent woman who has been trying her best to improve the livelihood and feed the children. She says that "I would like to expand put business activity by purchasing the products wholesale at good prices. I have a plan to save for my son's future". The total amount she is requesting is 1,800,000 MNT to buy more 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.