Munhbayar is 49 years old and lives with her father and a daughter in a Ger, which is a traditional nomadic yurt, in Arhangai province of Mongolia. Her father is retired and has a health condition which requires constant care. Her daughter Uuriintsolmon, is 21 and helps her mother run the business as well as taking care of her grandfather.
Munhbayar has been producing felt slippers, shoes, and leather clothing at home for her clients by order since 2008. She has to stay home taking care of her father and needs to cover family expenses, which is why she started her business at home. She is now well-known among the clients because of her quality and well fashioned products. She is now requesting a loan of 1,000,000 MNT to purchase sheep wool and leather to continue providing her merchandise to her clients. She is a hardworking, caring, and enthusiastic woman.
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.