Chuluuntsetseg B. is 40 years old and lives with her husband and daughter in the Bayanhongor province of Mongolia. She and her family live in a ger, a traditional Mongolian nomadic home tent. Her daughter, age 7, attends a local elementary school.
She and her husband operate a consumer goods retail business out of two different places in their town. They started their business in 2002 by operating a meat trading business between 2002 and 2003 after moving to their current town. Since 2004 they have been selling a variety of products that have been imported from China.
In the future, Chuluuntsetseg plans to expand her business by opening a branch shop and having their own work place. She is a talkative and open minded woman and says, "My dream is to have my own apartment where my family can live." She is requesting a 3,500,000 MNT loan in order to increase her working capital for her consumer goods trading 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.