Munhtsetseg M. is a 37-year-old widow who lives with her two teenage daughters in the Hovd province of western Mongolia. Both of her daughters currently attend the local high school. Munhtsetseg operates a small food-selling business at the local market in her town. She sells a variety of grocery items at a rented stand with the help of her husband. Munhtsetseg started her business in 2000, at first selling only eggs, onions and other small grocery items. After growing her business, she saved enough money to expand her operation to include a fruit stand.
Muuhtsetseg is an honest and focused businesswoman. She works hard to improve her business so that she can provide her daughters with a quality education. Munhtsetseg is requesting a 2,000,000 MNT loan to replenish her fresh fruits supplies.
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.