Tsetsegmaa is 31 years old and lives with her husband and three children in a ger (or Mongolian yurt) in Arhangai province, Mongolia. Her husband is employed, her oldest child is a school and her younger two children are in kindergarten. She started her garment-retailing business in 2002. Over the years since, she has gained many regular customers because her garments are inexpensive but elegant. The Mongolian holiday season is approaching, and demand for her products is increasing. Therefore, she is requesting a loan for 2,500,000 MNT to increase her stock so that she can meet this demand. She is a sharp and hardworking woman who says, "I have a mission to get my children educated."
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.