Shatarmaa D. is 38 years old and lives with her husband and three children in the Songinohairhan district of Ulaanbaatar, a capital city of Mongolia. All five members of the family live in a ger, a traditional Mongolian nomadic tent. Her oldest son has recently finished high school and currently stays at home while her two younger children both attend secondary school. Her husband works as a guard at a local company.
Shatarmaa operates a shoe-making business in a rented space where she produces a variety of traditional boots and shoes. She has been working as a shoe-making teacher at Ugalz vocational training center since 2006. She also has started her own business.
She has been selling her products at the largest main market of Ulaanbaatar, Narantuul. In 2010, she stopped teaching at the training center and moved to a rented workplace where she is growing her own business. Over the years of operation, she has been able to improve her family's income and also to provide for her children's educational costs.
Her goals are to one day own her own shoe-making workshop and continue to provide for her household's needs. Shatarmaa is requesting a 800,000 MNT loan to purchase more shoe-making materials in order to increase sales.
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.