Tungalag is 45 years old and lives with her husband and two kids in a ger (Mongolian yurt) in the city of Ulaanbaatar, Mongolia. Her husband works in a factory, her elder son is a cab driver, and her younger son is a student. She started her business in 2002 by sewing at home. She specializes in curtains and toddler garments. Now that she has been in business for quite a long while, demand for her products is increasing. Therefore, she plans to rent a workshop and buy some equipment. She is a sharp and hardworking woman who says, "I always try out new designs for my products, and my customers like it very much. My products sell almost instantly." She is requesting 2,500,000 MNT to buy sewing equipment.
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.