Tsetsenbal is 36 years old and lives with her three children in a ger, the traditional Mongolian tent, in Arhangai province, Mongolia. Her parents live with them and help support Tsetsenbal and her business. During the day, she operates a trading business selling second-hand products such as shoes, clothing, and blankets. Previously, she had operated a food trading business which she started in 2003 with a working capital of 150,000 tugrugs (~ 105 USD). She has been working with Xacbank since 2004, and is a reliable client. Tsetsenbal is a very hard-working and open-minded person. The most important thing for her is her children's education. She says: “I am working hard to be financially able to pay for my children's education.” Tsetsenbal is requesting a 150,000 tugrug (~ 105 USD) loan to purchase second-hand shoes to resell for a profit.
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.