Suvderdene A. is 29 years old and lives with her husband and three daughters in the Yaarmag of Han-Uul district of Ulaanbaatar, the capital city of Mongolia. Her husband currently works in a train station, her eldest daughter attends secondary school and her youngest two daughters are both in kindergarten. Suvderdene operates a hair salon in a rented space in her district. She started the hair and beauty salon in 2009 and has developed her business in a short time with many clients. She graduated from a vocational training course with a professional certificate. In addition, she operates a dance and calisthenics service to supplement her earnings. For the future, she hopes to expand both of her businesses. Suvderdene is a very kind and hardworking woman. She is requesting a 2,000,000 MNT loan to purchase necessary supplies and materials such as hair cream, face cream, makeup, towels etc. and to make repairs to her dancing hall workspace.
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.