Tserennadmid B. is 28 years old and lives with her two younger brothers in Ulaanbaatar, the capital city of Mongolia in a ger, a traditional nomadic housing tent in her grandmother's yard. Both of her brothers are students. Tserennadmid operates copying, scanning and printing services at a rented space in an internet center where she previously worked. She began her service a year ago and has purchased a copying machine with her loan revenues. Now her daily income reaches 30,000 MNT approximately. She wants to buy new equipment and devices for her computer service business to improve work effectiveness and efficiency and is trying her best to afford her brothers' tuition fees. Tserennadmid is requesting an 850,000 MNT to buy a new printer and computer to increase her work output.
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.