Uuganchimeg T., age 39, lives with her family in Ulaanbaatar, the capital city of Mongolia. Currently, she lives in a house with her family and parents near Narantuul market which is close to her workplace.
Uuganchimeg has been selling Korean secondhand mattresses, bedding and linen since 2006. She is a modest, silent and responsible woman. She says, “When summer comes, tourist camps, resorts and hotels need bedding and linen so the sale of goods improves. I am thinking of saving revenue to repair my fence and build a house in Gachuurt Horoo, Bayanzurh district.”
Uuganchimeg is requesting a 3,000,000 MNT loan to purchase more second hand goods at a wholesale price to sell.
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.