Altanbagana is 39 years old and lives with her husband and three children in a ger (Mongolian yurt) in Uvurhangai province, Mongolia. Her husband is a driver, her two eldest children are school students and the youngest one is in kindergarten.
She started her felt (compressed wool) boot-making business in 2009. Her boots are natural and affordable. During the summer, felt prices drop. Therefore, she needs to save in order to run her business successfully.
She is a sharp and hardworking woman who is requesting 500,000 MNT to buy raw materials for her boot-making business.
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.