Usuhbayar N. is a 41-year-old woman who lives with her husband and three children. Her eldest is a 20-year-old girl who works at a tourist camp. She also has a 19-year-old boy, currently unemployed. Usuhbayar's youngest child goes to elementary school. She has been running her business since 1990. When she began running her business, she cobbled traditional Mongolian shoes and her husband sold them. Since 1996, she has run a clothing business with her husband. They rent a clothing stall at the "Herlen" market in Baganuur city. Once a month, one of them goes to Ereen, a city just across the Chinese border, to buy variety of women's clothes, including blouses, skirts and sweaters. The loan they are asking for now is to buy a variety of clothes to increase their business inventory. With her husband, Usuhbayar is building a garage in her yard; however, they don't have a vehicle yet. She says, "Our destiny is in our hands. So my family would like to have our own car. We'll work for that."
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.