Tserendolgor is 47 years old and lives with her children in a ger, Mongolian yurt in Uvurhangai province of Mongolia. She is widowed and a single mother. Her one child is a college student, another one works at Ulaanbaatar city and the other one is a student at the local job training center. Her children also work during the summer time and help with the business.
Tserendolgor started her business in 2002 by selling meat at the local market. She has 9 years of meat-selling experience. She also has many regular suppliers and consumers. Now the demand for meat is increasing due to the rising prices and season. She took two previous loans from XacBank and used the loans to successfully expand her business. She plans to develop her business in the future. Tserendolgor is a diligent and hardworking woman who says "I want to create and build a good life for me and for my children. This is my goal." She is requesting a 1,000,000 MNT loan to purchase more meat from the countryside and to increase her turnover capital.
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.