Shijirtseteg is 41 years old, and lives with her three children in Tosontsengel, Zavhan, Mongolia. Her younger son goes to a secondary school and her daughter goes to college. The older son is working in Ulaanbaatar.
In 2000, Shijirtseteg started a family business, which produces Mongolian national shoes and other clothes. She is a widowed woman . Her business supports the family. Her average profit is 200,000-400,000 MNT (Mongolian Tughrik) per month. She needs 1,000,000 MNT to purchase raw materials such as 50 meters of silk, fabric and rawhide for boots.
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.