Gantumur, age 42, earns a living by making and selling traditional clothing. She lives with her husband and two children in the capital city of Mongolia. Her husband works at the shop counter. The children are enrolled in college and in high school. Both of them are about to graduate.
She has been making traditional clothes since 2000. Her customers appreciate the products she supplies and the business has become well-known in the district. Gantumur is a hardworking and diligent woman who says, "I would like to expand the business activity by getting supplies in large quantities and selling them at the shop counter to improve the household and pay for the children's tuition fees."
The total amount she is requesting is 1,200,000 MNT, which will be used to purchase string and fabric.
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.