Erdenetogtoh C. is 36 years old and lives with her husband and four children in Uvs, one of the western provinces of Mongolia. Her family lives in a "ger", a traditional Mongolian nomadic tent. All of her four children attend a local secondary school. Together with her husband, Erdenetogtoh operates grocery a trading business and a meat and livestock retail business in their town. She runs the family grocery store while her husband purchases meat and livestock from the countryside and then transports and sells them through their store and in the center of the province where the meat fetches higher prices. She started her business in 2006. Erdenetogtoh is requesting a 2,500,000 tugrug loan in order to purchase a large number of livestock for the upcoming winter months which her husband can sell at a high profit margin in the center of the province.
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.