Tserendejid is 47 years old and lives with her husband and daughter in a ger (Mongolian yurt) in Ulaanbaatar, Mongolia. Her husband is an electrician and her daughter is a clerk. Tserendejid started her grocery retail business in 2008 by renting a counter in the market. Lately, her business is slowing down due to the market environment. Therefore, she decided to move her business to another market. Her new counter is big; therefore her old products are not quite enough to run a business. Tserendejid is a sharp and hardworking woman who is requesting 1,700,000 MNT to purchase products to sell.
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.