Bayarbileg G. is a 53-year-old widow who lives with her two children in the Central province of Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent. Her daughter is a student and her son attends a local middle school.
Bayarbileg has been living in her town for 21 years and now she operates a clothes-making business with the help of her daughter. Bayarbileg worked as a quality examiner of DaDi Mongol, a local garment industry from 2004 to 2008 and since 2009, she has owned her own small tailoring shop where she not only sews traditional Mongolian-style clothing, but also sews European-style clothing in cooperation with a tailor.
Because she has gained a lot of experience, she knows what her customers want and how much they are willing to pay for her quality clothing. She wants one day to upgrade her old sewing machine to a newer, more sophisticated one so that she can experiment with more elaborate designs in her clothing. Bayarbileg is requesting a 1,000,000 MNT loan in order to purchase more fabrics and other 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.