Uugantsetseg is 46 years old and lives with her husband in the Suhbaatar district of Ulaanbaatar, the capital city of Mongolia. She and her family live together in one rented room in a public apartment. Her son lives on his own, separate from his parents, and her husband is disabled.
She graduated from a trade vocational school as a cashier in 1985. Uugantsetseg operates a construction materials trading business out of a stall at the construction market in the city. She has been engaged in this business since 2007 and has built a stable and successful operation.
She is requesting a 2,000,000 MNT loan to increase her working capital so as to increase the amount of her products 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.