Tseveldulam D. is 46 year old who lives with her husband and 20 year old son in Ovorhangai province, one of Mongolia's central provinces. Her son is a student at the Mongolian University of Science and Technology in Ulaanbaatar, the capital city of Mongolia.
Tseveldulam has been selling meat at the local food market since 2000. She purchases livestock from the wholesale market in the town and slaughters the purchased animals at home. She cuts the carcasses into small pieces and retails them to the locals. Since she has been selling good quality beef and mutton to locals for over nine years, many local customers visit her often and buy meat for their family dinners. She says that she is committed to making her business as successful as possible. This business is the main source of her family's income and she pays her son's university tuition with the business profits. She would like to see her son graduate with a bachelor degree and pursue his dream without financial strain. She is requesting a loan to purchase more livestock 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.