Munhtsetseg is 37 years old and lives with her husband and two sons in her own apartment in Ulaanbaatar, Mongolia. Her husband runs a car workshop, and her sons are college students. She started her cell-phone repair and parts shop in 2007 by renting a counter in a market. Her repair skills are excellent and seem to be attracting many customers. However, her equipment is old, so she is unable to repair new phones, like smart phones. Therefore, she is requesting 3,000,000 Mongolian tugriks (MNT) to buy new equipment to run her business properly. She is a sharp and hardworking woman who says, "I love what I do. However, my equipment is old, and repairing smart phones is highly profitable. If I could buy the necessary equipment I could pay my boys' college fees."
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.