Lhamsuren is a 65-year-old widowed woman who lives with her daughter in Huvsgul province in Northern Mongolia. Her daughter is 21 years old and employed. She has been running a garment retail business since 2000. She started the business in the shop counter of the biggest trade center in the town. She became experienced on the field. She has many regular customers and plans to expand the business activity by increasing the types. Lhamsuren is a smart lady who says that "I would like to expand the business activity by purchasing the garments in large quantities so that I could raise the income". The total amount she is requesting is 2,500,000 MNT which she will use 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.