Sanchirmaa is 28 years old and lives with her husband and two children in Ulaanbaatar city, Mongolia. She, with her family, lives in dormitory. Her husband is unemployed at the moment. Her elder child is a school student and the younger one is a kindergarten student.
She started her hairdressing business in 2004 by taking professional courses and worked as a hairdresser. In 2009, she started to rent her own place for business. Over the years, she became well known by her skill in the neighborhood. She is a skilled young woman who says, "Since I am the only one with the income in the family. I need to expand my business by purchasing additional equipments. Also, I would like to save money and to buy my own house." She is requesting 700,000 MNT to buy additional equipment.
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.