Sarantsetseg B. is 31 years old and lives with her parents and siblings in Hovd province in western Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent. Sarantsetseg manages a stationery business at a local market in her town. Her father is a taxi driver, and her two younger brothers work for a local construction company. One younger sister helps Sarantsetseg with her business. Her family is very large and very friendly; all family members are working hard to achieve their goals. Sarantsetseg was able to afford a small car with her business revenues and purchased a number of cattle as well. Sarantsetseg is a modest and quiet woman who does not frequently express her thoughts to others. She is requesting a 3,500,000 MNT loan in order to purchase more office stationery for an upcoming academic year.
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.