Chuluuntsetseg is 30 and lives with her son in a ger (a Mongolian yurt) in Zavhan province, Mongolia. Her son is a student at school.
She started her bakery business in 2003 by baking at home. Now she has her own workshop and two employees. Her baking technique is unique and tasty. She has many regular customers in the neighborhood.
Her customer demand is increasing; however, her machinery isn't working properly. In order to meet customer demand, she has to renew her machinery. She is a sharp and hardworking woman who says, "My business is shutting down. In order to work, I have to replace certain equipment".
She is requesting 3,800,000 MNT to purchase new machinery.
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.