Tsetsegmaa is 41 years old and lives with her husband and daughter in a ger, a Mongolian yurt, in Uvs province of Mongolia. Her daughter who is 17 goes to a secondary school. Tsetsegmaa manages a meat trading business with the help of her husband. She started her business with working capital of 500,000 MNT in 2004. Since then she has been able to build a strong customer base and managed to increase her working capital to 2,500,000 MNT. She has great confidence that she can expand and continue her business successfully. She is a hardworking lady who says, "During National Holidays sales gets higher so I need to increase my inventories before that." Tsetsegmaa is requesting a 3,000,000 MNT loan to purchase livestock 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.