Tungalag is fifty-seven years old and lives with her husband and son in a ger (Mongolian yurt) in Uvurhangai province, Mongolia. Her husband and son work as a construction workers. She started her sewing business in 2000. She mostly sews Mongolian traditional clothes. Her clothes are beautifully made and of high quality.
Now that holiday season is approaching, she got many orders. She is lacking raw materials to do the job therefore she is requesting 2,000,000 MNT to buy sewing materials.
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.