Lhamsuren is 42 years old and lives with her husband and two kids in a ger (mongolian yurt) in Bayanhongor province of Mongolia. Her husband helps with her business and her kids go to private school. She started her grocery retail business in 2007 when she moved to the province's capital.
Now that province's living condition is increasing, Lhamsuren is planning on broaden the range of products that she sells. She is a hardworking woman who says "Our province's living condition is increasing. Therefore I have to expand my business in order to support my family." She is requesting 600,000 Mongolia Tughriks (MNT) to purchase a range of products from Ulaanbaatar to sell.
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.