Jargaltsetseg T. is 37 years old and lives with her husband and four children in the Bayanhongor province of Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent. Her all four children, aged 16, 15, 10 and 8, study at the local school while her husband is currently unemployed.
Jargaltsetseg operates a meat trading business in her town. She has been engaged this business since 2003 after moving from countryside and has built a stable operation. During the summer months, her husband operates a construction business in his town to supplement his family's income. She hopes to expand her business.
Jargaltsetseg is requesting 1,000,000MNT loan in order to grow her working capital for her meat market business.
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.