Tserennadmid lives with her husband and two children in a ger (a Mongolian yurt) in the Sansar district of Ulaanbaatar city. Her two children, age 1 and 6, stay home with their nanny while her husband works as an operator at a private company.
She manages a bottle trading business in Ulaanbaatar city. She started her business in 2003 and has been able to expand her business. With eight years of operating her business, she has gained much experience and built a good relationship, both with her partners and her suppliers. She contributes all her business earnings for her family's use. She is an honest and diligent woman who is planning to continue her business in the future. She says, "Since my business operation I have been able to improve my family's living conditions."
She is requesting a 2,000,000 MNT loan to purchase more bottles 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.