Kulziya H. is a 65-year-old widow with three adult children. Her husband passed away five years ago. She and her children have been living in a house in Bayan-Ulgiy province, Mongolia, for the last 20 years. Her two daughters attend university. She has been operating a sewing business since 2000 after working as a seamstress in a tailoring company from 1990 to 1995. She usually sells her products through people with stalls at the local market. She makes a variety of felt products with nice traditional ornamentation. After many years of successful operation, she has managed to build a sustainable business. Because of her success, Kulziya was able to pay off her son's tuition fees and is still paying those of her two daughters. She is an open-minded and hard-working woman who says, "I want to expand my business and have my own workplace in the future." During winter, she needs to buy more felt and wool, so she is requesting a 400,000 MNT loan in order to purchase materials from Taikeshken in China.
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.