Tsevelmaa is a recent widow who lives with her five children, ages 1 to 24, in the Bayanhongor province of Mongolia. She and five of her children live together in a ger, a traditional Mongolian nomadic tent. Her older daughter, Shurenchimeg, works as a servant with a monthly salary of 140,000 MNT for the local university and her younger son, Amarjargal, attends a primary school. Tsevelmaa with her daughter helps operates a meat trading business and her daughter Uranchimeg sometimes setting in her stall and selling meat in local market. Also Tsevelmaa works as a welder, which is a before was work her husband. She provides a variety of welding service and earns monthly revenue of 80,000 MNT. She started her own business in 2006 by selling a variety of meat. Her husband, who passed away in 2008, had been working as a welder for his entire life. In the future, she plans to continue operating her meat selling business with a stable operation for several years and afford to build a house in her fence. She is requesting an 800,000 MNT loan in order to purchase a large amount of meat to sell as a retailer.
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.