Erdenetsetseg is 45 years old. She lives with her husband and two children in the Govisumber province in Southern Mongolia. Her husband works as a driver at a private company. Her elder child studies at college and her younger son studies at the high school in the local area.
Erdenetsetseg started a retail business selling fruit one year ago. She says the business is going really well and is profitable. She has established many regular customers and suppliers. Now she plans to buy supplies in large quantities so she can make more profits to pay for her daughter's college tuition fees.
Erdenetsetseg is an intelligent woman who says, "I would like to expand my business activity by buying supplies wholesale to save on transportation expenses." The total amount she is requesting is 1,500,000 MNT for the fruit.
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.