Gerelmaa is 47 years old and lives with her husband and son in a ger (traditional Mongolian hut) in Uvurhangai province, Mongolia. Her husband is a cab driver and her son is a college student. She started her flour and rice selling business in 2000. Now that her son joined a college, she bought another stall to run the business. However, her supply is not large enough to run the business and therefore she is requesting loan of MNT 2,500,000 to buy more flour and rice at whole sale prices. She is a sharp and hardworking woman who says, "My son is the first one to go to the college in my entire family. I will do everything I can to support him."
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.