Dolgormaa D. is 29 years old and lives with her husband and two sons in a rented apartment owned by the 016th squad in the Tuv province in central Mongolia. Her husband works as a sergeant at the 016th Army squad and his monthly salary is 330,000 MNT (247 USD). Dolgormaa worked at Gobi Co. Ltd from 2001-2003 and at a knitting manufacturer in Ulaanbaatar as a wool knitter from 2008 to 2009.
She started her business operation in March of 2010 after purchasing two new knitting sewing machines. She hires two employees for her sewing business. She purchases her raw materials from Gobi and Goyo Companies and produces her products. She usually sells her products at wholesale places. She is a hardworking and open-minded person and says "I will expand my business and become even more successful." Dolgormaa is requesting a 4,000,000 MNT (2998 USD) loan to purchase materials and a sewing machine that can be used to help make high-quality wool knitted products.
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.