Hajidmaa T. is a 36-year-old single mother who lives with her three children and her mother in Uvurhangai province, central Mongolia, in a 2-storey- house. Hajidmaa currently operates a clothing business in her town to support her family. She started her business in 1997 and since then she has been operating it in a stable fashion out of a rented stall at the local market. She has found success in her new trade and attributes this to her good business knowledge and selling skills.
Hajidmaa has purchased a new container where she will sell her products and work separately and independently from her friends. Hajidmaa is very hard-working, optimistic and is persistent in achieving her goal. She has been considered as a reliable borrower of Xacbank. She says, "My business is continuing quite well. I began running it with my friends, but now I am able to employ a salesperson. I am trying my best to own my own store with the help of my children, and I wish them to grow up to be highly educated people in the future." Hajidmaa is requesting a 4,000,000 MNT loan to purchase and import more clothes from Erlian city in China for 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.