Bayanjargal, 51, lives with her husband and four daughters in Hovd province, Mongolia, in an apartment. Her oldest daughter attends a university and her youngest two daughters attend a local secondary school.
Bayanjargal operates a meat trading business at a local food market. She has been operating her business since 2000 and has built a stable operation. The whole family supports her business and they have been planning to grow their business in future.
She has been paying her daughter's university fee with her earnings and providing money for her family expenses. Bayanjargal says, “I am working hard to provide good educations for my four daughters.”
She is requesting a 1,000,000 tugrug loan to purchase meat at wholesales price because demand is high in spring time.
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.