Erdenesuren is 53 years old and lives with her husband and son in Tuv province, Mongolia. She and her family live together in a ger, the Mongolian nomadic tent. Her husband, Tumendelger, receives disability payments from the government. He is a great husband who helps his wife's business and takes care of his family. They have been living together in their current home for 16 years. Erdenesuren operates a meat trading business. She has been operating her business since 1993, has steadily expanded her business, and gained much experience as a businesswoman. Erdenesuren started with working capital of 200,000 tugrugs (~ 140 USD), but after 17 years of hard work her working capital is now more than 5,000,000 tugrugs (~ 3545 USD). Erdenesuren is a very hard working person with a good personality. She says, “I would like to expand my business and to purchase my own apartment for my family in the future.” She is requesting a 2,200,000-tugrug loan to purchase a large amount of meat at the wholesale price 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.