T. Byambasuren is 53 years old and lives with her daughter in the Arkhangai province in central Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent. She operates a garment making business with the help of her daughter in her town. Byambasuren started her business in 1990 with 50,000 tugrugs (~35 USD). Over the years she has managed her business quite successfully and built a loyal customer base that frequently buy her hand-made clothes. With nearly 20 years experience as a seamstress, Byambasuren produces quality products and is trusted by her customers. Today, her working capital exceeds 600,000 tugrugs (~420 USD). Byambasuren is a hardworking businesswoman and has many plans for her business. She says, "I hope to expand my business in the near future." She is requesting a 400,000 tugrug (~280 USD) loan to purchase fabrics and materials to sew more clothes.
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.