Munhtsetseg is 33 years old and lives with her husband and son in a house in Sansar area, Ulaanbaatar, the capital city of Mongolia. She manages a shoemaking business with the help of her husband.
Munhtsetseg started her business in 2009. In Mongolia shoe making is still a traditionally handi-crafted profession. She produces a range of footwear items, including shoes, boots, sandals, clogs and moccasins. She is planning to expand her business and to employ more workers in the future. Munhtsetseg is vivacious person who says, "I am planning to expand my business and want to have my own factory in the future." She is requesting a 3,000,000 MNT loan to build a factory building 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.