Tsend-Ayush is 43 years old. She lives with her husband and three children. Tsend-Ayush started a shoe production and retail business 3 years ago. She goes to the country-side to sell her products. Because she has made and sold these products for 3 years, she now has many customers.
Tsend-Ayush is requesting a 3,000,000 MNT loan to import more raw materials for shoes from China because her product demand has increased and is very high now. If she can make this big order, her working capital will be improved and it will help expanded her business. Her youngest son is sick. With the expanded business and increased income, she does not need to worry her youngest son's treatment fees.
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.