Byambasuren gets orders from local residents and herders to sew a "deel," the Mongolian traditional dress, or she makes the deels first and then sells them. During the university graduation ceremony that is held in the spring, she gets a lot of orders from students. Her daugher, Oyunbileg, helps in her mother's business in addition to working as a teacher at a local elementary school.
Byambasuren makes the deels from cotton and a variety of silks. She is requests a loan to purchase raw materials for her business. She hopes to have her own working place in hear future and then expand her business by hiring employees, because she is getting more and more sewing orders.
About XacBankThis 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.
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Success!! The loan was 100% repaid