Togoo B. lives with her husband and nineteen year-old daughter in Ulaanbaatar, the capital city of Mongolia. Her daughter, Sarnai, attends a university. Togoo manages a traditional Mongolian shoe-making business. She began her business by producing traditional boots in 1999, and has built a stable business operation. Her products are very popular among her customers due to their good quality and unique style, and she has gained many permanent customers, especially from neighboring countrysides. She makes her boots in her mother-in-law's home. She has made and stored a large quantity of children's boots.
Togoo’s earnings have enabled her to raise her standard of living as well as expand her business. Moreover, she has used her earnings to purchase a new house with a fence. She is a very hardworking woman who says "Now, I will make more traditional adult boots and store them for future sale." She is requesting a 2,000,000 MNT loan to buy raw materials and grow her working capital.
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.