Tseveenrolom is 37 years old and lives with her husband and three kids in a ger, a Mongolian nomadic tent, in Uvurhangai province, Mongolia. She started her hairdressing business in 2008 by opening a shop in the uptown area. She is well known for her excellent service and low prices. However, her equipment is getting old and people are starting to refuse her services. Therefore, she needs new equipment. She is a hardworking and diligent woman who says "My equipment is old and not operating very well". She is requesting 500,000 MNT to buy a chair for her hair salon.
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.