Myagmarsuren D. is 35 years old and lives with her two children in Uvurhangai province in central Mongolia. She and her family live in a house which is owned by her mother. The family's living conditions are good and she is able to operate a business trading goods at a local market.
Myagmarsuren sells a variety of clothes and garments. She purchases most of her goods from Ereen, a city on the Chinese border, once or twice a month, depending on sales. She transports them back to the market to sell. Myagmarsuren started her business in 1997 and quickly established herself in the local business community. She hopes to soon expand her business and increase her earnings.
Myagmarsuren is a gentle, hardworking and neat woman. She says, “I am trying my best to have my own house, enlarge my business in the future. I wish I would have a small clothes store in my town.”
She is requesting a 3,000,000 MNT loan to purchase more clothes and warm garments to sell and to decorate and repair the house in which she is currently living.
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.