Gereltuya M. is 31 years old and lives with her husband and daughter in Arhangai province in central Mongolia. She and her family live in a 'ger', a traditional Mongolian nomadic tent. Gereltuya rents and operates a small cafe in her town with the help of her husband. Her cafe serves up a variety of traditional Mongolian dishes.
She started her cafe in 2008 with the working capital of 300,000 MNT and has since built a stable and successful operation. She is very hard-working and has built her cafe into one of the most popular dining spots in her town.
Gereltuya is very hopeful for the future and says, " I want to own my own cafe in the future." She hopes to soon expand her business and is requesting a 500,000 MNT loan to purchase food supplies for her cafe.
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.