Enkhtuya A. is a single mother who lives with her 2-year-old daughter in Ulaanbaatar, the capital of Mongolia. She and her daughter live in a "ger," a yurt or traditional Mongolian nomadic tent. Enkhtuya operates a used-clothing business in the Narantuul Market, one of the largest and most crowded markets in Ulaanbaatar. She started her business in 2003 with the help of her supportive aunt, and now she owns her own stall at the market and is getting more customers every day.
This successful business has allowed Enkhtuya to buy her own ger where she and her daughter can live comfortably. She lost both of her parents when she was a young child, and because of that, she wants her daughter to have everything that she never had. This is why Enkhtuya works hard every day and is making the most out of her clothing business. She would like to learn how to drive and purchase a car so that she can pick up items for her business instead of having to rely on delivery drivers.
Enkhtuya is requesting a loan of 1,700,000 tugtug (~1200 USD) to purchase clothing, such as socks and jeans from China.
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.