Shur-Erdene C. is a 26-year-old young lady who lives with her parents in an apartment in the Chingeltey district of Ulaanbaatar, the capital city of Mongolia. Shur-Erdene has been operating a coal and firewood trading business for the past four months. Her sales have increased due to the cold months. For the future, she plans to continue growing her business with a stable operation. Shur-Erdene plans to buy a large amount of sawdust fuel when the price for such product is still cheap in order to sell during the period of high demand. She is requesting a 2,500,000 MNT loan to purchase more sawdust fuels to sell.
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.