Jargalmaa is 40 years old and lives with her husband and parents-in-law in an apartment in Ih Toiruu, Ulaanbaatar, Mongolia. Her husband works at a local trading company. Jargalmaa graduated as a tailor and worked in a tailoring company for 7 years after her graduation. She also worked as an assistant in Japan with her husband for 4 years until 2012 when she started her business of selling used mobile phones at a local mobile phone sales centre with a little money saved from working there. She is now requesting for a loan of 1,000,000 MNT to purchase used phones from South Korea to sell at her rental booth. She is a hardworking, determined and welcoming lady.
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.