Badarch G. is 38 years old, married and the mother of three. Her family lives in a ger (traditional nomadic tent) district in Ulaanbaatar, the capital city of Mongolia. Badarch used to live in the countryside. In 2000, she decided her family needed a change and moved to Ulaanbaatar. She and her husband, Gendensambyy, started running a retail business selling fruits and vegetables at the Narantuul, the biggest outdoor market. To expand her business and increase her profit, she is planning to plant a variety of vegetables on a plot of land she owns. Her current business profit is the family's only source of income. Badarch is a humble and hardworking person who is requesting a loan to purchase more vegetables and vegetable seeds to plant.
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.