Tserendolgor, 49, lives with her daughter in a small house in Bulgan province, Mongolia. Her daughter is a specialist for the local government. She runs a garment retail business at a rental counter. She already has many regular customers and suppliers. She wants to expand her business. During the national holiday, the demand for summer-style garments increases. Thus, she needs to buy summer clothes to sell at her retail counter in order to increase her business income as well as profit. She is a diligent, hardworking, and humble woman. She is requesting 2,000,000 MNT to purchase more summer clothes to sell.
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.