G. Nergui lives with her husband and two children in Tsetserleg city in Arkhangai province. The children are 11th grade students. Her husband runs a small carpenter business. In 2001, G. started selling raw meat in the local market. In 2003, she took her first loan from the bank. Since then, she has taken 15 loans from XacBank, Kiva's partner in Mongolia, and the result has been very good. She always pays back her loans on time. Since the bank loans began, she has significantly improved her family's standard of living. She is self-confident and good at attracting customers. In the future, she would like to expand her business and to have her own place. She would also like to branch out into surrounding small towns. G. started her business with 200,000 tugrig ($1 USD=1,570 tugrug) and it has now increased to 2,000,000-2,500,000 tugrig. Since the start, she managed to buy a small car and work equipment, and she built a small working space next to her home. G. is requesting a Kiva loan to buy more meat for her business.
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.