D. Ankhtuya is 39 years old and lives with her husband and three daughters in Arhangai Province in central Mongolia. All of her daughters currently attend a local secondary school.
Ankhtuya operates a sewing business in her town with the help of her family. The family also owns livestock which are maintained by her husband, who works as a herder.
Ankhtuya started her family sewing business in 2005 with an investment of 40,000 tugrugs (approx. $27 USD). She has found success in her trade and the business has been growing steadily. She attributes her success to her family's hard-working attitude and good customer service practices. Today, her working capital exceeds 500,000 tugrugs (approx. $345 USD). For the future, Ankhtuya says, “My dream is to expand my business, increase the number of livestock for my husband, and provide a good education for my children.”
Ankhtuya is requesting a 1,200,000 tugrug loan to purchase more materials for her sewing business.
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.