Mrs. Suvdaa is a 30-year-old single mother of one, living in a Ger (traditional nomadic tent), in Uvurhangai province of Mongolia. She has been working as a hairdresser since 2003. She has attended several certificate trainings to strengthen her skills as hairdresser. She is a thoughtful, hardworking, and welcoming lady who provides good services to her clients.
She just started renting the seat at the local market. She is now requesting loan of 4,500,000 MNT to purchase a large amount of inventories, including shampoos, treatments, sprays, etc., before prices go up. She manages to take care of her child and the child's education while she runs her small hairdressing for a living.
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.