Lhamsuren T. is a widow who has two children aged 13 and 14. Her family lives in a "ger" (nomadic housing tent) district on the plot of land she owns in Arhangay, one of Mongolian central provinces. Both her children are attending a local elementary school.
Since 2004, Lhamsuren has been running a retail business selling dairy products at a small rental stall in the local food market. As a result of her hard work, her working capital has increased from 100,000 tugrugs to 800,000 tugrugs. Her dairy sales income is the only income of her family.
Lhamsuren is an open minded, loyal, and a locally well-respected person. Her dream, is to have her own workplace. With this loan she will purchase more dairy products to increase her business inventory.
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.