Mrs. Erdenetsetseg is 49 years old and lives with her husband and two daughters in a small house in Khovd Province, Mongolia. Her husband, Nyamtseren, is 51 years old. He works as a driver for a private company. Her daughters, Bolor-erdene and Nandin-erdene, are both 22 years old. They are college students.
Mrs Erdenetsetseg started her clothing retail business in 2002. In the future, she plans to expand her business into baby clothes and maternity clothes retail. She is a hardworking and diligent woman. She is requesting a 3,000,000 MNT loan to purchase more clothes from China because Mongolian harsh winter is coming and people are starting to buy warm 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.