Tsetsegmaa D. is 57 years old and lives with her daughter and granddaughter in Ulaanbaatar, the capital city of Mongolia. She and her family live in their own apartment. Her grandchild attends college. Tsetsegmaa has been operating a clothing and consumer goods trade business since 1993. She provides a variety of clothes and small items such as shoe polishers, juniper, incense sticks, watch batteries, glue, buttons etc. to satisfy her customer's needs. She is focused on expanding business by exceeding her daily average income at 100,000 MNT in the near future. She is a very honest, modest and responsible person. Tsetsegmaa is requesting a 1,200,000 MNT loan to purchase women's wool shirts and other consumer goods in order to increase her sales.
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.