Amarbayasgalan is 50 years old and lives with her husband and two children in Arhangai province in western Mongolia. Her family enjoys a comfortable lifestyle and have been living for twenty-five years at their current address. The family supports and helps Amarbayasgalan’s business.
Amarbayasgalan has operated her vegetable-trading business since 1995, both wholesale and retail. Now she has a stall in Hasuu market and aims to expand her business in the future. With her income, she has bought a car and electric appliances, but most important is that they have got a house. Now the family is building a house for her oldest son using her business revenues.
Amarbayasgalan is a hardworking, modest woman. She is requesting a 3,000,000 MNT loan to purchase more vegetables and seed potatoes at a wholesale price.
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.