Tserenbyamba T. is 30 years old and lives with her husband and two children in Bayanhongor province of Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent, in her parents' yard. Her daughter attends a local primary school while her husband works as a driver. Tserenbyamba operates a car spare parts trading business in her local town. She sells a variety of machinery parts through her two shops. She started her business in 2006 selling spare parts at the local market and has built a stable and successful operation. In 2008, she used her earnings to build a new workplace where she operates her business. Over the years, she has managed to expand her business by renting one more stall in the local market and now sells products through her two different shops. Her earnings have enabled her to buy a car for her family. Today her working capital has reached up to 5,000,000 MNT. She hopes to one day have her own house and fence where her family can live. She is requesting a 2,000,000 MNT loan to buy machinery parts to sell.
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.