Gaitav is a 57-year-old woman. She lives with her husband and son in an apartment in Dornogovi province, Mongolia. Her husband Sharhuuhen is retired and stays home. He helps his wife with her retail clothing business. Her son Olziisuh, 27, works at their local fire department as a driver. Gaitav has been running her clothing business in the local market since 1998. She used the profits from her business to pay university tuition for her three younger children. Now they are all married and live separately. She is a hardworking and welcoming woman. She requests 3,000,000 MNT to allow her to import warm seasonal clothes to sell at her rental counter in the local market in order to increase her income.
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.