Baigalmaa is 42 years old and lives with her husband and four children in Arhangai province, Mongolia. She and her family live together in a ger, the Mongolian nomadic tent. Her two older daughters attend university, and her younger children are secondary school students.
She operates a clothing trading business from a rental counter at the Terh trading center. She sells a variety of men's and women's clothing, as well as sneakers, all of which she purchases in Ereen, a Chinese border town. She began operating her clothing trading business in 2004. She also has been operating a bakery business since 1997, baking and selling bread.
Over the years Baigalmaa has steadily expanded her business, and today her working capital is 3,500,000 MNT. She is a very hardworking person, a great businesswoman and a good mother for her children. She says, “I would like to provide a good education to my children so that they will become well educated people.”
Baigalmaa is requesting a 2,500,000 MNT loan to purchase additional inventory for her clothing 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.