Oyunchimeg, 33, is married and lives with her husband and their four-year-old daughter in Ulaanbaatar, the capital of Mongolia. They live in a house in her father's backyard. Her husband makes horse saddles from home and her son goes to kindergarten. They have a decent standard of living.
Oyunchimeg began her business venture by operating a bakery shop from 2000 to 2003. Then she started a seamstress business, which she has been running for the past 5 years. Oyunchimeg and her husband both fill custom orders for traditional clothing as well as items such as deel – a traditional Mongolian long coat, and horse saddles. They sell women's deels for 65,000 MNT, which cost them 30,000 MNT to produce. Men's deels are sold for 80,000 MNT and cost 40,000 MNT to produce. Their monthly profit is between 400,000 to 500,000 MNT.
Oyunchimeg is a hardworking and active person who tries her best to fulfill her goals. Oyunchimeg says, "We get loans from XasBank and it has already helped us to improve our lives". She is requesting a loan of 1,300,000 MNT to purchase more materials for her deel making 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.