Lhagvajav D. is 42 years old and lives with husband in their apartment in Hovd province, Mongolia. Lhagvajav operates a business making clothes out of her home. She began her business in 1992 after graduating as a seamstress in Russia in 1987. She makes a variety of clothes according to her customers’ specifications. After many years of owning this business, she has gained much experience and designs high quality clothing items. Lhagvajav is requesting a 2,000,000 MNT loan in order to purchase more fabrics and materials for her sewing 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.