Mrs. Monhzul is 34 years old and lives with her husband and two children in a 'ger', a traditional nomadic yurt, in Bulgan province of Mongolia. Her husband Enhbold works with his brother on a construction site, and her son Chimeddorj studies at local school. Daughter Anudari is 5 and goes to local kindergarten.
Monhzul has been running a shoe retail business at a rental counter of the local market for more than a decade and has a lot of experience in the business. She imports shoes from Erlian, China, sells them at her counter, and pleases her regular customers with her tastefully chosen pairs of shoes. She is now requesting loan of 2,500,000 MNT to purchase a large amount of shoes from Erlian, China to sell at her counter in the market. She is hardworking, welcoming and a positive woman.
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.