Mrs. Jargalsaihan is a 37-year-old widow who lives alone in an apartment in Selenge province of Mongolia. Her daughter has gotten married and lives separately with her family. Mrs. Jargalsaihan has been working as tailor for years and started her own business of a tailoring service at home in 1995. She is now requesting 500,000 MNT to purchase inventory to run her tailoring business and meet the order request she has received. She is hardworking, well-behaved and a strong 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.