Otgonbat is a 31-year-old woman who lives with her husband and daughter in Uvurhangai province in Central Mongolia. Her daughter studies at the secondary school.
Using her business skills, Otgonbat started a garment retail business in 2007. Now her business activity and income are stable and improving steadily. Otgonbat is a diligent woman who says, "I would like to expand my business activities by purchasing supplies in large quantities." The total amount she is requesting is 2,000,000 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.