Tserenhuu is 51 years old and lives with her husband and two children in a ger, a Mongolian yurt, in the Narantuul area of Ulaanbaatar city. Her two children, aged 10 and 13, go to a secondary school. She manages a men's clothing business with the help of her husband. She started her business in 1999. They purchase stock 1-2 times a month. Now their working capital exceeds 1,300,000 MNT and she earns 65,000 MNT monthly. She is a hardworking woman who says, "I want to have my land certificate soon." She is requesting a 1,500,000 MNT loan to purchase more clothing 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.