Erdenchimeg is 27 years old and lives with her husband and two children in a ger (Mongolian yurt) in Ulaanbaatar city, Mongolia. Her husband runs his own business and her two children are kindergarten students. She started her kids' garment retailing business in early 2010. Her sales location is excellent and well known by her customers. Her garments are of good quality and affordable. Now that summer is approaching, she needs to buy more supplies. She is a sharp and hardworking woman who says, "now that my children are in kindergarten, I finally have time to expand my business". She's requesting 2,500,000 MNT to buy more summer garments for children.
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.