Yeson-Erdene is a married woman, age 39, who lives with her husband and two children in a house in Tuv province, Mongolia. Her husband is a herdsman with a total of 70 husbandry animals. Her two children, ages 4 and 6, both attend kindergarten. She operates a grocery store in her town.
At first she used to rent a small booth where she sold a variety of grocery items. She started her grocery trading business in 2000. With 11 years of business experience, she has managed to expand her business into a medium-sized grocery store. Her business success is due to the good location of her store which is placed between residential apartments and schools. She is a diligent woman who wants to expand her grocery store into a supermarket. She is requesting a 3,000,000 MNT loan to purchase more grocery items 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.