Shurentsetseg is 39 years old and lives with her husband and their two sons in Arhangai province, Mongolia. She and her family live together in a 'ger', the Mongolian nomadic tent. They have been living in their current home for 15 years. Her husband operates a transportation business. Shurentsetseg has been operating a meat retailing business since 1999.
Shurentsetseg's business is well-known in their home province. When the business first started, its working capital was 200,000 tugrugs (~ 140 USD). However, after 11 years of hard work, Shurentsetseg's working capital has grown to 2,800,000 tugrugs (~ 1,970 USD). Since she started the business, her family's quality of life has improved, and she has purchased a car for her family with the business profit.
Shurentsetseg has been planning to expand her business in the future. She is a very hard-working person and has great communication skills. She says, “I would like to provide a good education for my children.” Shurentsetseg is requesting a 4,000,000 tugrug (~ 2814 USD) loan to purchase large amounts of meat at wholesale prices 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.