Turtsetseg N. is a 25-year-old single mother who lives with her daughter in Suhbaatar province of Mongolia. She and her daughter live together in a rented apartment. Turtsetseg operates a sewing business in her town. From her home, she produces a variety of traditional clothing items and embroideries on household items for her customers. She started her sewing business in 2000 after graduating from training courses as a seamstress. For the future, Turtsetseg hopes to progress her business and open her own sewing factory. She is a modest person and says, "All I want is to improve my skills." She is requesting a 1,500,000 MNT loan to purchase 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.