Tserenbyamba is 31 years old and lives with her husband and two kids in a ger (a Mongolian yurt) in Bayanhongor Province, Mongolia. Her husband helps with her business. Her eldest kid is a school student, and her youngest one goes to kindergarden. She started her car-part retailing business in 2006 by renting a container in a local market. Her business has gone well, so she decided to expand her business by renting another container in the market. She already rented another container. However, her supplies are not sufficient to run a whole container. Therefore, she is requesting 3,000,000 Mongolian tugriks (MNT) to purchase oil and spare parts.
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.