Tsetsegsuren V. lives with her sisters in the Central province of Mongolia in a ger, a traditional Mongolian nomadic tent. She operates a consumer goods retailing business. She began her business in 2003 with a working capital of 100,000 MNT. Since then, she has bought a grocery trading stall from which to operate her business and her working capital has grown to exceed 3,200,000 MNT.
Tsetsegsuren would like to grow her business in order to also sell dairy products and to be able to save money so that she can improve both her quality of life and to get married. In 2009, she purchased a Korean small car with her business profits in order to deliver consumer goods to her workplace. She is hard working and modest person. Tsetsegsuren is requesting a 2,000,000 MNT loan in order to purchase a variety of dairy products at wholesale prices.
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.