Erdenetsetseg is a single mother of four who lives in a ger (Mongolian yurt) in Govi-sumber province, Mongolia. Her eldest kid lives independently, the middle one is a college student and the younger two are school students.
Erdenetsetseg started her meat retailing business in 1996. Over the years she has gained many regular customers and trusted suppliers. Her business is stable and very profitable. She is a sharp and hardworking woman who says, "With my income it is hard to support three children. Therefore, I decided to rent another counter in the market". She is requesting 850,000 MNT to purchase more meat.
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.