Tsetsgee T. is a 50-year old married woman who lives with her family in Uvurhangai province of Mongolia in their own ger (a traditional nomadic housing tent). Her two children are students and they live and study in Ulaanbaatar, the capital of Mongolia. Her husband works as a private businessman.
Tsetsgee currently operates a meat retailing business in her town. She began her business in 1995 after moving from the micro province and has gained much experience in it. She buys a large amount of meat from countryside at wholesale prices, and she sells the meat at retail prices. She is a very accurate, friendly, and intelligent woman who has a great business mind. She is optimistic about the future and has been making plans to enlarge her business. She says, "My children are growing up so I want to focus on expanding my business and to have my own workplace." Tsetsgee is requesting a 3,500,000 MNT loan to purchase a new truck for her son.
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.