Erdenegerel is 53 years old and lives with her daughter in a ger (Mongolian yurt) in Ulaanbaatar, Mongolia. Her daughter is employed. She started her grocery retail business in 1997 with a small shop. Now she has decided to rent a counter in the market, which is a big step for her. She is a hardworking and diligent woman who says, "Now that my daughter is old enough, it is time to concentrate on my business." She is requesting 1,500,000 MNT to buy supplies.
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.