Tsevelravjaa is a 49-year-old widowed woman who lives with her daughter in Uvurhangai province in Central Mongolia. Her daughter studies at the college. She has been running a retail meat business since 2002. She trades beef, mutton, and different types of meat from her well-positioned shop counter. She purchases the meat wholesale. There are many regular customers who appreciate her business products.
She is a diligent woman who is trying alone to improve her livelihood and pay for her daughter's college tuition fees. She says, "I would like to purchase the meat wholesale to raise the income and save more. I need support for my business activity." The total amount she is requesting is 1,500,000 MNT to buy more meat wholesale.
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.