Tseveldulam D. is 46 years old and lives with her husband and son in Uvurhangai province, Mongolia. She and her family live together in a ger (the traditional Mongolian nomadic tent). They have been living together in their current home for ten years. Her 20-year-old son is a university student.
Tseveldulam operates a meat-retailing business. She has been operating her business since 2000 and has steadily expanded her business over the past ten years. Her main customers are local residents who live in the center of her province.
Tseveldulam purchases meat from the countryside at wholesales prices to retail to her customers. In addition, she sells to the wholesalers as well. She is an enthusiastic person. She says, “Now, the most important thing to me is to be financially able to pay my child's university tuition fees until he graduates. In addition, I have a goal to build a house for my family.”
Tseveldulam is requesting a 1,500,000 MNT loan to purchase a large amount of meat at wholesale prices in order to sell it to her many customers.
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.