Byambahishig is 40 years old and lives with her husband and two teenage children in a house in Arhangai province, Mongolia. Her son and daughter, aged 18 and 14, both attend a local high school while her husband helps Byambahishig with the family business.
Byambahishig operates a grocery retail business out of two rented stalls at a local market. She sells a variety of vegetables such as potatoes, carrots, cabbages, onions, garlic, etc. She started her business in 1996 with working capital of 300,000 tugrugs (~210 USD). Since then she has managed her business successfully and established a strong customer base.
With her business earnings Byambahishig was able to buy some land and build a house in 2009 in order to improve her family's quality of life. Moreover, she bought a car for her family use. Now her working capital exceeds 4,000,000 tugrugs (~2800 USD).
Byambahishig is an intelligent businesswoman with a good personality. She says, "I want to improve my business and open my own grocery shop in the future." Byambahishig is requesting a 4,000,000 tugrug loan to purchase a wide variety of vegetables for her business.
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.