Amgalanbayar is 53 years old and lives with her husband and four children in Huvsgul province, Mongolia. She and her family live in a ger, a traditional Mongolian nomadic tent. Her husband is unemployed. Her oldest child currently works as a dishwasher and her next two children, ages 25 and 30, are unemployed. The youngest is a university student.
Amgalanbayar operates a small clothing production business in her town. She started her business in 2001 by renting a room at a local trading center to produce and sell her clothes. Before starting her own business operation, she worked as a dressmaker for both a state and private organizations for a while and gained much working experience during that period of time.
She has managed her business quite successfully over the years and plans to expand in the near future. She hopes to soon own her own working place. She says, "All I want is to be able to afford my children's tuition fees and help them find proper jobs." Amgalanbayar is requesting a 1,000,000 tugrug (~700 USD) loan to purchase fabrics and materials to make new clothes for her 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.