Togos B. is 47 years old and lives with her husband and 15-year-old daughter in an apartment in Tuv province, Mongolia. Her daughter, Tuvshinzaya, attends a local secondary school. Her husband operates a transportation business between Zuunmod and Ulaanbaatar.
During the day, Togos operates a meat retailing business at a local meat market. She has been operating her business since 1992, and has steadily expanded her business over the past 18 years. With her business profits, she was able to pay her two children's university tuition fees until they graduated. They have been living separately from their parents.
Togos is an honest and hardworking person who has been working hard to improve her family's quality of life. She has a goal to operate a supermarket in the future. Togos is requesting a 4,000,000 Mongolian Tugrug (MNT) loan to purchase large amount of meat at wholesale prices to resell to her many customers 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.