Handtseren is a 55-year-old widowed woman who lives with her daughter and her granddaughter in the Baganuur district of Ulaanbaatar, the capital city of Mongolia. Her daughter is employed and her granddaughter is in secondary school. She has been running a garment retailing business since 2006. She has made many regular customers and extended the shop counter area in 2009. She has been bringing the goods from Beijing city, China. Now she plans to get the supplies in large quantities to sell at wholesale. Handtseren is a good-natured woman who says, "I would like to expand my business activity by getting more supplies from China so that I could save the transportation expenses and raise the income to improve the household".The total amount she is requesting is 1,200,000 MNT to purchase more garments.
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.