Otgonmunh operates a clothes making business out of a rented space in her town, sewing a variety of clothing items according to her customers' orders. She started her own business in 2005 after living and working as a herder in the countryside with her family. For the future, she plans to expand her rented space and establish her own tailoring factory. Otgonmunh is requesting a 440,000 MNT loan in order to purchase an electric sewing machine for her business.
About XacBankThis 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.
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