Shurentsetseg Y. is 38 years old and lives with her husband and two teenage children in Arhangai Province, one of Mongolia's central provinces. Her two sons are both high school students. Shurentsetseg sells meat in small pieces at the local food market. She has been renting a small stall at the local market and selling mostly mutton and beef to locals for the past ten years. She started the meat business in early 1999 with small capital of 300,000 MNT. Since then, she has gained significant experience and has regularly visiting local customers. Her business capital is currently exceeding 2,500,000 MNT (8 times more than the starting capital). Her husband always helps in her business. He drives his small truck to nearby herder families and purchases cattle and sheep for the business. She requests a loan to purchase more meat for her business and plans to use the profit to get a full repair for her husband's truck.
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.