Tsendjav J. is 55 years old and lives with her husband and one daughter in Harhorin, an ancient capital city of the Mongolian Empire. She and her family live in a ger, a traditional Mongolian nomadic tent. All of her other children are grown up and live separately from their parents. One daughter, Myagmarjav, attends university and helps her mother's business during the summer months.
Tsendjav and her husband operate a shoe-making business. She used to work as a boot maker between 1973 and 2000 and began her private business in 2000 by making traditional boots. She has built a stable operation. She attributes her business success to her excellent sewing. Over many years of business, Tsendjav has gained both experience and a wide customer base.
She is requesting a 1,000,000 Mongolian tugriks loan in order to purchase raw materials such as leather, fabric, heels and glue from Narantuul, the largest and main market in Ulaanbaatar, a capital city of Mongolia, 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.