Handaa G. is 59 years old and lives in a 'ger', a traditional Mongolian nomadic home tent, in the Songinohairhan district of Ulaanbaatar, the capital city of Mongolia. Her husband has a liver disorder and always receives treatment at the hospital.
Handaa operates a tailoring business out of her home. She started her business in 2007 and has since built a stable operation. She makes tailored clothes according to her customers' requests. In the future, she plans to enlarge her business in order to increase her income and pay for her husband's treatment. She is requesting a 2,000,000 MNT loan to purchase more materials and fabrics to make clothes for the upcoming Mongolian New Year holiday in order to increase her working capital.
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.