Sosorburam is a 45-year-old woman who lives with her husband and three girls in Uvurhangai province in Central Mongolia. Her husband is a plumber and the three girls are at college.
Since 2008 Sosorburam has been making traditional clothes in wintertime and building decorations in summertime. Her husband helps her sometimes. They have been earning income for the family and paying the three girls' college fees. Now Sosorburam plans to expand the business by buying the necessary materials, such as cotton and silk, to make traditional clothes and sell them at the shop counter where she has been working for a few years.
Sosorburam is a good-natured woman who says: "I would like to expand the business by getting the supplies in large amounts. I have a further plan to expand more and more to earn extra for my daughters' future."
The total amount Sosorburam is requesting is 500,000 MNT to purchase cotton and silk.
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.