Gantuya G. lives with her husband and two children in her own house in Ulaanbaatar, the capital city of Mongolia. Her daughter attends Otgontenger University, while her son is currently studying for his bachelor's degree at the Mongolian Science and Technology University. Her husband works in a construction college as a teacher.
Gantuya operates a women's lingerie retail business from a stall at the biggest market in Narantuul. She sells a variety of different lingerie items and accessories and her wide product selection attracts many customers. She started her women's lingerie business in 2000. She imports her products from Erlian, a border city of China, twice a month. Her business location is good. In the future, she plans to expand her business by increasing her working capital during the peak season for sales. She is a very modest and hardworking person and says, " I want to help with my sister's children's education." She is requesting a 1,000,000 tugrik loan to purchase more lingerie with an increase in her working capital.
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.