Horloo, 37, is married and lives with her husband and two children in Uvurhangai province, Mongolia. Her husband is currently unemployed and her two children attend local secondary school.
Horloo graduated from college as a designer and she started her sewing business after her graduation. She operates a sewing service at a local trading center. She makes various types of clothing including traditional and modern. She is popular in her area as she has been operating her business for about eight years and she has her regular customers. She is a reliable customer of our bank.
Horloo says, " I am trying to expand my business in order to save for my children's future studies and open my own workshop where I could train my students." She is requesting a loan of 3,500,000 MNT to buy necessary 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.