Ariunaa C. is 38 years old and lives with her father and two children in the Bayanhongor province, Mongolia. She and her family live in a traditional Mongolian housing tent called a "ger." Her son and daughter, ages 17 and 15, both attend a local secondary school and help their mother in their spare time. Her father has cancer and lives with them as he is receiving treatment.
Ariunaa manages a clothing trading business out of a rented stall at the local market in her town. She sells a wide variety of men's and women's clothing to her many customers. Ariunaa started her business in 2006 and has built a stable operation over the last three years. She has a loyal customer base who like the stylish clothes she sells.
Ariunaa is focused on the future and hopes to further expand her product line in the near future. She also plans to begin teaching at a local secondary school to supplement her income. "If I get a teaching job, I will hire (a) salesperson to handle the day-to-day operations of my clothing business," she said.
Ariunaa is a hardworking and open-minded businesswoman. She is requesting a 1,000,000 tugrug loan to import clothing from China to sell in her business.
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.