Erdenetsogt is a 47-year-old woman who lives with her husband and 2 children in Ulaanbaatar city, Mongolia. Her two children are independent. She started retailing shock absorbers in 2000 with her husband. He sells them at a local market. They have made a number of regular customers. They attract the buyers because of their good prices and qualified products.
Erdenetsogt is a diligent woman who says, "I am planning to expand the business activities by purchasing supplies in large quantities. In order to make it happen, I need some support." The total amount she is requesting is 3,000,000 MNT to buy more supplies.
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.