Henmedeh is 36 years old and lives with her husband and two children in Ger (Mongolian Yurt) in Umnugovi province, Mongolia. Her husband helps with her business, and her children are school and kindergarten students. She started to operate a tire repair shop in 2010. Later, she also opened a garment retail business in early 2011. Later, she also opened a tire repair shop. Her business locations are good and her income is stable. Her tire repair shop is very profitable; however, her equipment is not running properly. Therefore, she's requesting 700,000 MNT to purchase some equipment and a motor.
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.