Lhagvasuren is 51 years old and lives with her husband and three children in a house in Uvurhangai province, Mongolia. Her younger two daughters are students and her husband is a retired man who stays home all day. She manages a meat trading business at a rented stall at a local market. She started her business in 1999 and has been able to stabilize her business. Now she has many regular customers and is planning to continue her business in the future. She is a polite woman who possesses good communication skills. She says, "All I want is to have a nice apartment and to expand my business in order to pay tuition fees of my children." She is requesting a 3,000,000 MNT loan to purchase more meat 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.