Erdenetogtoh is 44 years old and lives with her husband and a daughter in their apartment in Dundgovi province, Mongolia. Her husband, Enhbat, helps his wife to run their family business, selling clothing at the local market. Her daughter, TSerenchunt, is 20 years old and is a freshman in the university.
Erdenetogtoh has been running her clothing retail business at a rental counter of the local market since 1999. She has lot of regular customers. She is a hardworking, responsible and well-educated woman. She has good taste in the selection of her inventory and is well known among the clients with her good and friendly service. She is now requesting loan of 5,000,000 MNT to purchase clothing inventory from Erlian, China, to sell at her rental counter in order to increase her family 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.