Mrs.Ulziiburen is 38 years old and lives with her husband and her two children in a ger, a traditional Mongolian yurt, in the Bulgan province of Mongolia. Her husband, Duijhorol, helps her with her clothing business. Her older daughter goes to secondary school and her younger daughter attends kindergarten.
Mrs.Ulziiburen started her own clothes trade business in 1994. Today, she sells ready-made women's and children's clothes imported from China. She is applying for a 3,600,000 MNT loan to buy a supply of chic brand-name clothes. Mrs.Ulziiburen is an ethical and hard-working woman recognized by customers, local residents, women and children.
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.