Sugirmaa, 40, is married and lives with her husband and two children in a house in Suhbaatar district, Ulaanbaatar, capital city of Mongolia. Her son, age 20, attends a college and her daughter, age 13, goes to a local secondary school.
She operates a construction-goods trading business with the help of her husband at a rented stall at a Construction Trading Center, one of the biggest markets. She started her business in 2008 after working as a cook for seven years. Back then, she was paid very low compared with her earnings she receives now.
She is an honest woman who attributes her business success to her good accounting skills. She is requesting a loan of 2,000,000 Mongolian tugriks (MNT) to purchase more inventory to sell in the coming warm seasons when sales get higher.
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.