Tsetsgee S. is 39 years old and lives with her husband and three children in the Bayanhongor Province in Central Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent. One of her children is a university student and a second attends a local secondary school.
Tsetsgee currently operates three separate businesses in her town with the help of her husband. Their businesses include used shoe trading, a cafe and a taxi service. Tsetsgee manages the cafe and the second hand shoe trading business. Her husband is responsible for managing the taxi service. She started her cafe in 2007 and has built a stable operation. Since 2008, she has been selling a variety of second hand shoes imported from Germany and has built a stable operation except during the winter months. They have found success in all three ventures and have a strong customer base throughout their community.
For the future, the couple is planning to continue growing all their businesses. Tsetsgee is a modest and hardworking woman. She is requesting a loan of 1,000,000 MNT to purchase a large amount of second hand shoes for her retail 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.