Erdenetsetseg, 43, is widowed and lives with her two children in Suhbaatar province, Mongolia. They live in a two-room apartment that they own. Her older child, a daughter, attends college while her son goes to a local secondary school. Erdentsetseg currently works as a gas station attendant three days a week. When she is off work she makes traditional and modern clothing.
She started to sell her handmade clothing in 1995. She used to operate her business out of a rented workshop but now she makes clothing at home when she gets custom orders. She is a modest and quiet person who says, I save some more money to help my son since he has gotten married and started his own life. Therefore, I want to help him to build everything from the beginning." She is requesting a loan of 3,000,000 MNT to purchase materials for her clothing business.
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.