Sarantuya is 43 years old and lives with her husband and two children in a house in Arhangai province, Mongolia. Sarantuya operates a consumer goods retail business, with the help of her husband, in a rented stall at a local market. They sell different kinds of consumer goods such as socks, shoes, oil, soap, detergent, etc. She began her business in 2002 and over the years, her business has grown and become successful. Now her working capital exceeds 2,000,000 tugrugs (about $1,400). In the near future, she is planning to increase her product line and grow her customer base.
She is requesting a 2,000,000 tugrug loan in order to purchase more home goods, such as pots, pans, silverware, dishes, etc., for her growing 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.