Burentugs P., 39, is married and the mother of a 17-year-old daughter. She and her family live together in an apartment in Ulaanbaatar, the capital city of Mongolia. Her daughter, Lhamhuu, attends a local secondary school. Her husband, Bayrbat, operates a tailoring business from their home. He manufactures a variety of products including sheets and pillowcases.
During the day, Burentugs operates a second hand blanket and sheet trading business at Narantuul, the biggest market in Mongolia. She has been operating her business since 2005 and has built a loyal customer base. With a lot of hard work and determination, today her working capital exceeds 8,500,000 MNT. Her profit is between 20 – 40 %.
Burentugs has been planning to expand her business and create a sewing workshop in the future. With her and her husband's last couple of years business profits, they purchased an apartment for 18,000,000 MNT for their family. Burentugs is a very hardworking person who has a great business mind. She has been planning to provide a higher education for her daughter. Burentugs is requesting a 2,000,000 MNT loan to purchase more blankets and sheets at wholesale prices in order to resell them at Narantuul market.
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.