Mrs. Altantsetseg is 29 years old and lives with her husband and two children in a Ger, a traditional nomadic yurt, in Arkhangai province, Mongolia. Her husband, Nyamdavaa, works at a local construction company as an assistant worker. Her children attend local public school and kindergarten, respectively.
Altantsetseg has been running her clothes retail business in a rental stall of a local market for 10 years. She already has regular local customers and suppliers in Erlian, China. She wants to expand her business by increasing the variety of clothes and improving the quality of the products. She is now importing inventories from Erlian, China, to continue her business and is now requesting a loan of 3,500,000 MNT (Mongolian tugriks) to purchase a large amount of clothing inventory to sell at her rental stall.
She is a hardworking woman who wants to raise her children to be educated and have brighter futures.
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.