Burmaa is 30 years old and lives with her children and husband in a house in Dundgovi province of Mongolia. Her husband works as a carpenter and supplies boxes and other products to Oyu Tolgoi LLC. Their living condition is little below the average. Her two children are high school students.
Burmaa started her business in 2008 by making felt and wool arts and products from her home. Now she makes souvenirs and felt arts and lambskin deels (Mongolian traditional dress). She is a hardworking and diligent woman who says "I want to develop my husband's business more and increase his income level." She is requesting a 2,000,000 MNT loan to purchase a sewing machine and materials like wool and lambskin.
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.