Sarantuya T. is 53 years old and lives with her husband in the Dornod province of Mongolia. They live in their own house on a small plot of land that they own. They have an average standard of living.
All her children got married and they live on their own. Her husband drives a truck and operates a delivery service.
She began retail trading of food and grocery in 2003. She rents a stall at a local market for her business and her daily net income is about 100,000 MNT. Her current working capital exceeds 1,000,000 MNT.
Sarantuya is a hardworking and polite person. She wants to expand her business and increase her working capital. She is requesting a loan of 1,500,000 MNT to purchase more grocery products from Ulaanbaatar 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.