Alimaa, 46, is widowed and lives with her two children in Gobi-Altai province of Mongolia. Her husband passed away two years ago, so she must take care of her two children by herself. They live in a 'ger', a Mongolian nomadic housing tent, on a small plot of land that they own. Both of her children attend a local secondary school.
Alimaa graduated from a vocational school as a tailor in 1986 and worked at a local clothing factory for six years. She began operating her own business in 1993. In the beginning she made clothes at home, however in 2008 she began to rent a workplace in a bigger trading center. Since she began her own business she was able to save enough money to buy the land they currently own. She wants to have her own workshop in the future so that she can save money on rent.
Alimaa is a hard-working and brave person who says, "I want my two children to get a good education so they can live without any difficulties in the future." She is requesting a loan of 1,000,000 MNT to buy a stitching machine for her 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.