Entuya is 51 years old and lives with her three daughters in a house in Ulaanbaatar city, Mongolia. Her oldest daughter works at a private company, her other daughter helps in the family business and her youngest daughter is a college senior.
Enhtuya operates a shoe trading business. She started selling men's and women's shoes at Narantuul market in 2000. Her working capital is 2,000,000 MNT and her daily sales volume is between 80,000 MNT to 150,000 MNT. The cost of the goods she sells is 60% of retail cost. She goes to Erlian city, China, to buy shoes two or three times a month. For each procurement of shoes she spends about 1 to 1.3 million MNT. She is planning to sell more shoes because of the new school year.
Enhtuya has many years of business experience and her family supports this business. Her daughters take care of household issues and matters very well. Her middle daughter replaces her at the Narantuul market while Enhuya goes to China. She is a diligent and experienced woman who says "I want to increase my turnover capital and sales volume. If there are wide range of shoes for selection, my business goes very well." She is requesting a 2,000,000 MNT loan to buy more shoes and goods for the new school year and to increase her product range.
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.