Tsedev A. is a 40-year-old single mother who lives with her sister and three-year-old son in Uvs province in western Mongolia. She and her family live in a ger, a traditional Mongolian nomadic tent. A. owns and operates a small cafe in her town. Her cafe serves up a variety of traditional Mongolian dishes, but her most popular item is Huushuur, a deep fried flour pocket filled with meat. Her cafe is a preferred lunch spot in the community as huushuur is a quick and easy meal for many people on the go.
A. started her cafe in 2005 and has since built a stable and successful operation. Her earnings have enabled her to buy a two-room apartment to house her cafe. She is very hardworking and has built her cafe into one of the most popular dining spots in her town. A. is very hopeful for the future and says, "One can achieve anything they want if they work hard." She hopes to soon expand her business and has plans to start a clothing trade business to supplement her income. She is requesting a $2500 loan to purchase food supplies for her cafe and to invest in starting a clothing trade 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.