Tsetsegmaa is a 54year-old woman who lives with her husband and two children in Dornogovi province in Southern Mongolia. Her husband is employed. She started running a hairdresser's salon business in 1993, renting a counter with 4 people. They all run the business independently. She offers good and reliable service to the local customers. She has been improving her livelihood level significantly. Tsetsegmaa is a diligent and active woman who says, "I would like to develop the business activities by purchasing some necessary materials like hair color, massage cream and spending on the reconstruction of the building." The total amount she is requesting is 2,800,000 Mongolian Tugriks (MNT) to buy necessary hairdresser materials and construction materials for the business.
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.