Sergelen is 37 years old and lives with her husband and three kids in a ger (Mongolian yurt) in Huvsgul province, Mongolia. One of her kids is a school student and the other two kids are in college. Sergelen has a meat retailing business that her husband helps with.
Sergelen started the business in 2001 by renting a counter in the market. Her income has been about the same since she started the business. Because she has many regular customers and trusted suppliers, she rented another counter in the market. She needs more supplies in order to run another counter, therefore she is requesting 3,000,000 MNT to buy them.
She is a sharp and hardworking woman who says, "My two kids are in college, therefore I need to act aggressively in order to pay their 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.