Gunsmaa is 56 years old and has two children who live with her in her house in Uvurhangai province, Mongolia. The older child works, while the younger one studies in college in Ulaanbaatar, the capital Mongolia.
Gunsmaa had been working as a snipper in a sewing section until it was abolished in 1984. Now, in the market economy, she started her own sewing business, which she has been doing for 18 years. She makes costumes and gowns by order and has one employee.
Gunsmaa is requesting a loan for 2,800,000 MNT, which she will use to buy fabric. She is hardworking, helpful, and healthy who states, "It is possible to run my business successfully and constantly in the future."
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.