Ichinhorloo Y. is 40 years old and lives with her husband and two sons in Uvurhangai province in central Mongolia. She and her family live together in a winter house with a fence. Her two sons, ages 13 and 16, both attend a local secondary school while her husband operates a public-transportation business using his own car.
Ichinhorloo operates a clothing and consumer-good trading business out of a stall at the local market in her town. Her business is located in a popular spot of the market and attracts many customers. She started her clothes-selling business in 1998 and has built a stable operation. After many years of owning this business, she has gained significant experience as a trader. She makes her procurement twice a month. In addition, she owns a shop next to her home to supplement her earnings.
Ichinhorloo is a modest, diligent and hardworking person and says, "I am planning to procure more products that can satisfy my customers' needs in order to sell in my stall and increase my sales income."
She is requesting a 2,500,000 Mongolian tugriks loan to purchase more clothes 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.