Tserendolgor S. is a 44-year old married woman with four children. She and her family live together in a ger (a traditional Mongolian housing tent) in Uvurhangai province of central Mongolia. Her oldest child attends the university. Her two daughters study at a local secondary school. Both her husband and their youngest child are disabled and stay at home.
Tserendolgor is a seamstress who sews a variety of clothes. She began her business in 2000 by selling a variety of consumer goods in a rented stall at the local market. In the beginning, she operated her sewing business in her home, taking orders from people to supplement her income. She has now moved her sewing business to her rented stall, which gives her greater access to more customers. Over the years of operation, she has gained a lot of experience as a seamstress. Her business is in a popular spot in the market where there are no competitors around. Tserendolgor hopes to continue to make her business a stable operation. She wants to have her own workplace in the future and says "I am trying best to expand my business."
Tserendolgor is a gentle and hard working woman and is requesting a 600,000 MNT (452 USD) loan to purchase a variety of fabrics and silks from Ulaanbaatar, a capital city of Mongolia.
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.