Jargaltuya L., 31, lives with her husband and two children in a house in the Han-Uul district of Ulaanbaatar, the capital city of Mongolia. Her family lives together in a house with a fence.
Jargaltuya operates her own clothing business. She makes a variety of deels, which are traditional Mongolian coats. She started her sewing business in 2007 with only one sewing machine. Her business has been so successful that it has allowed her to hire a worker. Currently, she owns two sewing machines. She is a modest and hardworking person and is requesting a 1,200,000 MNT loan in order to purchase more fabric and material to make a variety of traditional clothes for the upcoming Mongolian New Year holiday.
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.