Chimeddorj lives with his wife and two kids in a ger (Mongolian yurt) in Zavhan, Mongolia. His wife is employed, his eldest child is in school and the younger one is in kindergarden. Chimeddorj started his deel (Mongolian traditional clothes) sewing business in 2008 by taking a sewing class in the same year. His deels are very stylish and of high quality. He provides customized service and is a trusted supplier by many. With his profits, Chimeddorj has already bought his own ger. Due to his machinery, his work is slow and he is not meeting customer demand. Therefore, he is requesting 1,000,000 MNT to buy a sewing machine.
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.