Mrs.Tovshingal is a 35-year-old single mother. She lives with her three children in Ger in the Bayanhoshuu area of Ulaanbaatar city, Mongolia. Her three children are between the ages of 2 and 12 and all attend local schools and kindergarten.
Tovshingal has been providing tailoring services at home since 2006 while she took care of her children. She is a hardworking, optimistic, and diligent woman who wants to raise her children to be highly educated. She is now requesting a loan of 700,000 MNT to purchase tailoring inventory 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.