Gerelmaa is 33 years old and lives with her husband and three children in a ger (a Mongolian yurt) in Govisumber province, Mongolia. Her husband works in a construction site and all her children are school students.
She started her food court business in 2010 by renting a place. Her food is known for its taste and value. She recently found a good location and decided to relocate the place. The new location is pretty big so the existing equipment isn't enough for the place. Therefore, she is requesting 1,000,000 MNT to buy necessary products for the new space. She is a sharp and hardworking woman who says, "In the past, my place is so small and very limited. Now that I have a big place, I am sure that I can be successful."
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.