Mrs. Shinehuu is a 53-year-old widow and lives with her 2 children in an apartment in Baganuur district of Ulaanbaatar, Mongolia. Her daughter, Oyundari, age 21, studies at the university and her son, Oyunbold, age 15, studies at a local school. The borrower has been running her clothing sales business since 2001. Her business has been the only income source for the family for years, and she manages to cover all of the expenses including her children's education. She is now requesting 800,000 MNT to purchase underwear and socks to sell at her counter. She is a hardworking, tough and responsible woman who has a good previous loan record at XacBank.
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.