Tsetsegmaa is 57 years old and lives with her daughter and granddaughter in an apartment in the Baganuur district of Ulaanbaatar, the capital city of Mongolia. During the day, she operates a clothing and small consumer products business at a counter. She sells men's and women's clothes and approximately 60 other types of products, including buttons, zippers, shoe polish and glue. Tsetsegmaa has been operating her business since 1993 and has gained much experience as a businesswomen. She is an honest and optimistic person. Tsetsegmaa says, “I am working hard to increase my working capital, profit and revenue as well as to keep average daily revenue no less than 50,000 tugrugs (~ 35USD).” She is requesting a 1,000,000 tugrug (~ 705 USD) loan to purchase additional inventory, including men's and women's clothing and other small products 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.