Oyuntsetseg is a 41-year-old woman who lives with her husband and four children in a house in Govi-Altai province, Mongolia. Her husband is a blind lama who instructs his believers at his home. Unfortunately, her older daughter is a disabled lady at the age of 22. Her youngest, age 9, is a pupil and other two, age 16 and 20, attend college.
Oyuntsetseg manages a clothing trading business in her town. She started her business in 2007. She rents an outdoor stall during warm seasons because of the low rent cost. She travels to Ereen, border city of China, once or twice in a month in order to import her goods. She is very good at picking out most qualified and stylish clothes and people of all ages are happy to buy from her booth.
As her business has become stable and profitable, she is planning to go to Beijin, capital city of China, to collect many more stylish clothes in order to boost her sales. She is an open-minded and polite woman who attributes her business success to her good communication skills. She says, "I have a big dream and I am trying hard to fulfill my big dream." She is requesting a 3,000,000 MNT loan to purchase wide variety of clothes from Beijin city.
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.