Amarbayasgalan C., aged 46, lives with her two children in Arhangai province, Mongolia. She and her family live in a small house that they own. Both her son and daughter, aged 19 and 6, attend local schools.
Currently, Amarbayasgalan operates a tailoring business in her town. She started her business in 2006, with working capital of 350,000 MNT, after purchasing a sewing machine. Over the years, she has built a loyal customer base that appreciates her high quality products and good service. Today, her working capital exceeds 1,300,000 MNT. Her earnings have enabled her to purchase a house and yard for her family.
Amarbayasgalan is an honest person and has much hope for the future. Currently, with the graduation season underway, she hopes to use her loan to take advantage of increased demand for her tailored products. Her dream is to one day have her own sewing workshop. She is requesting a 1,500,000 MNT loan to purchase necessary materials 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.