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Bayarmaa is 46 years old and lives with her husband and four sons in a house in the Tuv province of Mongolia. Her youngest son is in high school, and the next older one is in university.

Bayarmaa operates a retail clothing business out of a stall in a local trading center. She began her business in 2005 after working as a salesperson in another person's clothing business. At first, her working capital was 400,000 MNT, but her business grew quickly and steadily so that now her working capital exceeds 5,500,000 MNT.

Because of her business success, she was able to purchase a house for her family to live in as well as send one of her sons to study in Korea. She says, “I plan to continue to grow my business in the future in order to help my children with their finances.”

Bayarmaa is requesting a 3,000,000 MNT loan in order to purchase a car which will be used to transport her clothing from China and Ulaanbaatar back to her shop.

Additional Information

About XacBank

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.

About Mongolia

  • $5,900
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,432.5
    Mongolia Tugriks (MNT) = $1 USD