Uranchimeg is 51 years old lives with her two daughters and grandson in a rental apartment in the Bayanhoshuu area of Ulaanbaatar city, Mongolia. Her older daughter is unemployed and stays home. Her younger daughter, Myagmarsuren, is 20, and a sophomore at the local university. Her grandson, Anar, is 8 years old and studies at the local primary school. Uranchimeg started her tailoring service business in 2005. She has built close relationships with her clients and suppliers over the years. She is now requesting a 1,900,000 MNT loan to purchase a large amount of inventory to meet clients' orders for seasonal traditional costumes and modern clothing. She is a talented, well-experienced and hard-working 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.