Nerguimaa is a 37-year-old widowed woman who lives with her two children in Govisumber province, Mongolia. Her children study at the secondary school. Since her husband died, she has become responsible for the children. She started renting a shop counter and selling garments for babies and kids. It has been eight years since she started her business. Her business activities are stable. She has been trying really hard to feed her family and be successful. Nerguimaa is a diligent, active, and responsible woman who says, "I would like to expand my business activities by purchasing some garments from China. I am planning to buy them in wholesale and trade them in for good prices." The total amount she is requesting is 1,500,000 MNT to buy more garments from Beijing.
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.