Tseepilmaa is 43 years old and lives with her three children in a ger, Mongolian traditional nomadic housing tent in Zavhan province, Mongolia. Her two children are employed while one is a student. She manages a clothing trading business in her town. She started her business in 1992 with working capital of 500,000 MNT. She worked hard to stabilize her business and now her working capital has reached 1,500,000-2,000,000 MNT. She built a strong customer base and is planning to continue her business in the future. She is a diligent woman who attributes her business success to her good managerial skill. She says, "I am thankful to Xacbank for lending me required amount of loan for my business." She is requesting a 2,000,000 MNT of loan to purchase clothes from China.
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.