Tseren is 49 years old and lives with her husband in their small house in Uvs province, Mongolia. Her husband Tsogtoo is college professor. Her children are married and live apart.
Tseren started her small food retail booth in their plot of land in 1999. She was one of the starters of that business. Her booth is close to the local public school and other crowds and sales are good. She is a well-experienced, kind, and talkative woman who is now requesting loan of 1,500,000 MNT to purchase food and other inventories to sell at her food retail booth.
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.