Batdulam is 40 years old and lives with her daughter and parents in Bayanhongor province, Mongolia. She and her family live together in a ger, the Mongolian nomadic tent. They have been living together in their current home for nine years. Batdulam is planning to live separately from her parents (but with her daughter) in the future. Currently, she operates a second hand products trading business. She started her business in 2004, and initially she sold her products at a rental counter. In October, 2009 she purchased a shipping container for her business with capacity of 20 tons at a local market. Batdulam usually sells second hand shoes from Germany to her many customers. Her working capital is 4,000,000 tugrugs (~ 2890 USD). She has been planning to keep stabilizing her business, since it is more comfortable for her to operate the business from her own shipping container, which is her workplace. Batdulam is focused on the future and says, “I would like to purchase my own plot of land with a house and yard for me and my daughter in the future.” She is requesting a 2,000,000 tugrug (~ 1445 USD) loan to purchase four large packages of used shoes for her business. The cost of the shoes per package is 300,000 – 500,000 tugrugs (~ 215 – 360 USD).
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.