Bayartsengel is 43 years old and has been running her own clothes shop for the past two years. Her husband passed away some years ago and in 2000, she started working for her sister at her sister’s shop. Bayartsengel mostly sells shirts and such things for men and women at her shop. She wants to expand and sell coats as well. She needs a loan to buy the coats and get them to her place. Bayartsengel lives with her two daughters, Ankhnaran and Ankhjargal, both in high school. They live in Baganuur, a small town an hour or so drive away from UB (Ulan Bator). In the winter, she bags coal and sells it and in the summer, she gathers glass and plastic bottles to make ends meet. With her husband gone, her goal now is to make enough money that she can send both her girls to college. Bayartsengel is fiscally responsible, honest and humble.
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.