Tseinpil is a 50-year-old widow and lives with her three children in Uvurhangai province, Mongolia. She and her family live together in a ger, the Mongolian nomadic tent. Tseinpil operates a clothing trading business at a local market. She sells a range of women and men's clothing as well as underwear at her rental counter. She started her business in 2008. Currently she purchases clothing to sell to her customers once every month or two, depending on sales. Tseinpil has strong sales and communication skills. She says, “My dream is one day to open my own factory. In addition, the most important thing to me is to provide a good education for my children.” She is requesting a 1,400,000-tugrug loan to purchase a variety of clothing in Ereen, a Chinese border town, 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.