Mrs.Chuluuntsetseg is 50 years old, and lives with her husband and four children in a ger in Omnogobi province of Mongolia. Her husband, Bayarsaihan, helps his wife run her business of traditional costumes and shoes (production and sales). Her 3 oldest children have graduated from the university, and stay home helping their parents. The youngest child goes to a local secondary school.
She has been herding livestock since 2002. She has been tailoring traditional costumes by customers' orders since then. She has gained lot of experience, and has gained customers' trust over the years.
Her sewing machine is so old and needs to be replaced. She is now requesting 2,200,000MNT to purchase an electric sewing machine and inventory to run her business smoothly. She is a honest, modest and hardworking woman.
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.