Tsetseglen D., 45, is married and lives with her husband and three children in Ulaanbaatar, the capital of Mongolia. They live in their own house on a small plot of land that they own. They have an average standard of living.
Her husband and her two elder daughters do work and support their family. Tsetseglen began selling souvenirs in 2009. In the beginning she used to purchase and sell souvenirs at a rented stall. Now she makes souvenirs by herself and sells them at her stall. One of her daughters also operates a stall.
She is a hardworking person with initiative who says, "I make souvenirs at home and it is difficult. Therefore, I want to expand my business and have my own workshop in near future."
She is requesting a loan of 3,000,000 MNT to purchase equipment for her 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.