Mrs. Jargal is 40 years old and lives with her husband and two children in a small house in Selenge province of Mongolia. Her husband, Olziisaihan, is 40 years old. He is currently unemployed and works part-time here and there. Her daughter, Onorzul, is 21 and studies at university, and her son, Onobold, is 16 and a senior student at a local secondary school.
Jargal has been providing a tailoring service business in town for the last seven years in a rental place. She is well-known for her qualified and friendly service. She is now requesting a loan of 1,000,000 MNT (Mongolian Tughrik) to purchase a motor for her sewing machine and inventory to provide her tailoring services.
She is a hardworking, talented and friendly 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.