Otgonoyun is 46 years old and lives with her sister and two children in a house in the Tosontsengel province of Mongolia. Her son will soon be a college freshman.
Otgonoyun operates a sewing business. She started her business in 2004 and she operates her business at her home.
Her daily income is sufficient to cover all the relevant costs and bring some profit. She manages all the management tasks and duties. She is gradually expanding her business.
She is a diligent and responsible woman who says, "My business is going well after receiving a loan from the bank. Thus, I want to expand my business."
She is requesting a 500,000 MNT loan to purchase materials and cloth 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.