Myanganzul is 39 years old and lives with her husband and two children in Ger (Mongolian Yurt) in Arhangai province, Mongolia. Her husband operates a taxi service by his motorcycle. Her children are school students. She started her garment business in 2002 by renting a counter in a market. Over the years, she gained many trusted suppliers and regular customers. Her products are highly fashionable and reasonably cheap. She is a sharp and hard-working woman who says,"It was hard to expand my business when my children were young. Now that they are old enough, I finally have an opportunity to expand my business." She is requesting 1,200,000 MNT to expand her range of products.
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.