Serchmaa is 50 years old and lives with her husband and two children in a ger, a Mongolian yurt, in the Uvurhangai province of Mongolia. Her son, age 22, and daughter, age 15, are students. She manages an used clothing trading business with the help of her husband in her town. She started her business in 2003 and gained much experience and knowledge. They collect orders from their customers and bring the products to their homes. Besides their trading business they conduct a transportation business in their town. Now they have many regular customers whom are happy with the services they provide. She is a hardworking lady who says, "I want my children to be educated and have a better life. Also I would like to have my own apartment or house someday." She is requesting a 3,000,000 MNT loan to purchase more goods in order to increase her business sales.
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.