Byambahuu T. lives with her husband and 20 year old daughter in the Bayanzurh district of Ulaanbaatar, the capital city of Mongolia. Her daughter is a sophomore student at the Mongolian University of Science and Technology in Ulaanbaatar.
Byambahuu has a small retail business selling women's handbags and purses. She sells from a small, rented stall in the Narantuul market, the largest outdoor market in Ulaanbaatar. She brings her goods from Ereen, a border town in China from which many products are imported. Sometimes she travels to Beijing to purchase higher quality handbags and purses. In the future, she would like to rent stalls at busy shopping malls in the city. She requests a loan to purchase more handbags and purses from Ereen.
About XacBankThis 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.
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