Tserendolgor is 32 years old and lives with her two sons and husband in a 'ger', a Mongolian yurt, in Uvurhangai province of Mongolia. Her elder son is a high school student. The younger son attends the local kindergarten. She started her business in 2008 by selling clothes and goods at the local market. She has many years of business experience.
She is planning to buy a new container in which she stores the goods and sells the goods. She has taken out four business loans from XacBank. She uses her loans for the right purposes and business deals. Her sales income and business profits are increasing gradually in the last few years. She is a hard-working and diligent woman who says "I want to expand my business and buy a new container." She is requesting a 700,000 MNT loan to purchase more clothes and to increase her turnover capital.
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.