Tsendmaa began operating a business making clothing in 2006. She decided to operate her own workshop as people are getting more and more interested in wearing traditional clothes such as deels, Mongolian traditional coats, vests, and traditional dresses for every kind of special occasion. Tsendmaa gets more custom orders during the holidays. Her current working capital is 1,200,000 MNT. She wants to further expand her business and have her own workshop in the future. Tsendmaa is a hardworking and modest person who says, "I want my children to have a good education. By making more profit, I would like to restore our house and have my own workshop." She is requesting a loan of 1,500,000 MNT to purchase more textiles and cloth 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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