Tserenlham D. is 55 and has two daughters. She lives in the Baganuur district of Ulaanbaatar, the capital city of Mongolia. Since her husband's death, she has been doing a small business in retail. She visits her client families and local people and sells various products for family or individual needs.
She has been in the retail business for about 14 years and has a wide base of clients and customers. She visits the local police office, tax office, and even hospitals to pitch her products for sale. She employs an orphan teenage boy who does not have parents and shelter. She supports him and gives him a job with a salary. She says that she has raised two daughters well and now would like to raise this orphan teenager well.
She requests a loan to purchase more products 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.