Tsevelravjaa is 48 years old and married. She lives with her children in the Uvurhangai province of Mongolia. They live in a ger, Mongolian nomadic housing tent, and have been living in the same place for about ten years.
Tsevelravjaa began her retail business by selling meat and meat products at a local market. In 2006, she started a clothing business at an outdoor stall. Now, she operates a kiosk at a trading center called Orgil which she opened in 2008. Tsevelravjaa purchases clothing for her business from China once or twice a month depending on her income. She is requesting a loan of 3,000,000 MNT to purchase more clothing for her business.
Tsevelravjaa is a reliable bank customer who has paid back several loans on time. She is a sociable and neat person who says, “I am trying hard to expand my business and increase my working capital in order to save for my daughter’s future studies. I also want to improve my profit to build a house and to operate my own store.”
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.