Serjmyadag is 41 years old and lives with her husband and two children in an apartment in Selenge province, Mongolia. Her husband, Buyant, is 41 years old, and he works in a hospital. Her older daughter, Dulguun, is 21 years old and she is a college student. Her younger daughter, Ariunzul, is 16 years old and she is a secondary school student.
Serjmydag started her hairdressing business in 1988 by renting a small space. She took endless training and expanded her business bit by bit. She is planning to run a hair salon. She is a sharp and hard-working woman who says "My province is a rural area of Mongolia, therefore I need to purchase a large amount of supplies from the city". She is requesting 1,500,000 MNT to buy hairdressing 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.