Tsetsegsaikhan is 44 years old and lives with her husband and three children in the Chingeltei district in Ulaanbaatar, Mongolia's capital city. Her husband is a civil engineer and her eldest daughter goes to kindergarten, while the other two children are at home. Tsetsegsaikhan started to trade in the “Khuchit shonkhor” food market with her mother in 2002. Her mother runs a meat business. Since she started her business, Tsetsegsaikhan has been able to gain experience while expanding her business with the profits. She purchases vegetables for 1,000,000 tugrugs every three days and sells them. Her monthly profits exceed 200,000-350,000 tugrugs.
In the future, she hopes to expand her market stall into a specialized vegetable store and operate on a wholesale trade. She thinks that there is less risk in this type of business, as vegetables are in demand daily. The family lives in their own ger (yurt/tent) and the busiest season for them is the summer time. They are preparing to build a house this fall. Tsetsegsaikhan is a hardworking businesswoman, with good business ideas. She is requesting a 2,000,000 tugrug (approx. $1,382 USD) loan to purchase more vegetables that will enable her to increase her business' profitability. In the picture: Tsetsegsaikhan and her family.
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.