Munhtsetseg T. is 38 years old and lives with her husband and three children in the Bayanhoshuu district of Ulaanbaatar, the capital of Mongolia. She and her family live together in their own house. Her two sons attend a local high school and her daughter, who is a one-year-old, attends a kindergarten. Her husband works in the government organization in their town. Munhtsetseg began her business in 2002 in the "Uguuj" shopping center. She has been operating a general products trade business. Within a short period, they have built a stable and successful operation and today their working capital has increased to a level of 4,000,000 MNT and they bought car. In the future, she wants to open her own magazine. She is requesting a 3,500,000 MNT loan in order to purchase and import more general products from Erlian, a border city in China, to sell at two different places for the upcoming New Year holiday.
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.