Oyun-Erdene is 32 years old and lives with her two daughters, father, sister and sibling in Hovd province, Mongolia. She and her family live together in a 'ger', the Mongolian nomadic tent. Oyun-Erdene operates a tailoring business with her sister in their town. Her sister is an experienced seamstress who has worked in Ulaanbaatar, the capital city of Mongolia, for many years, and has trained Oyun-Erdene in tailoring.
Oyun-Erdene started the tailoring business with her sister in 2008, and they have been successfully operating their business since then. They have been planning to rent a workshop beginning in April 2010. Oyun-Erdene is a very hard-working person who has a great business mind. She is requesting a 1,200,000 tugrug loan to increase her working capital and to purchase two electric sewing machines and a lock stitch machine for her 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.