Byambatsetseg is 36 years old and lives with her husband and two children in a house in the Bayanzurh district of Ulaanbaatar, the capital city of Mongolia. Her oldest son, aged 16, is in secondary school while the youngest has not reached school age yet. Besides helping with the family business, her husband takes care of their children and does all the housecleaning.
Byambatsetseg manages a meat-trading business in her town with the help of her husband, selling a variety of locally raised meats to her many customers. She started her business in 1999 after working as a teacher for five years and has built a successful operation over the years.
Byambatsetseg received her first loan from Xacbank in 2008. Since then she has been a very trustworthy recipient and has made good progress with the loan. Today, her business continues to grow quickly and she has a large base of loyal customers. This is her second Kiva loan and she wants to use the money in order to expand her business. She says, “All I want is to have happy and nice life.”
Byambatsetseg is a hardworking businesswoman and attributes her success to her good accounting skills. She is requesting a 2,400,000 tugrug loan to purchase more meat to sell during upcoming national holiday.
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.