Otgonhorloo is a 29-year-old woman who lives with her husband and three children in Uvurhangai province, Mongolia. Her husband is unemployed. Her children study at the secondary schools and kindergarten. She started running a garment retail business in 2010. She rents a shop counter at local trade center and trades the garments for women and men. As she has paid the 800,000 MNT deposit for the building, she has a clow budget to purchase the supplies. Otgonhorloo is a diligent woman who says, "I would like to continue the business activities successfully by having some support on the business." The total amount she is requesting is 1,400,000 MNT to buy more garments for spring.
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.