Altantuya is a 39-year-old woman who lives with her husband and 2 children in Ulaanbaatar city, Mongolia. Her husband is employed. Her children study at the college and secondary school. She started a garment retail business in 2011. She trades second-hand clothes at the rental counter and the business income is stable. She has made a number of regular customers who appreciate the products. Now she is planning to expand the business activity. She says, "I would like to develop the business activity by purchasing the supplies in large quantities. I am planning to expand the business." The total amount she is requesting is 500,000 Mongolian Tugriks (MNT) to buy second hand clothes.
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.