Byambasuren B. is 36 years old and lives with her husband and two children in the Hovd province of Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent. Her son attends a local middle school and her daughter goes to kindergarten. Byambasuren operates a retail business in her town. The family began the business in 2009 and since then they have been gaining experience. Her husband is a singer in the local culture center. She purchases food in bulk, such as candy, chewing gum, and soft drinks to sell by the piece. Byambasuren is a hardworking and optimistic person who has a plan to build her own house. She is requesting a 200,000-MNT loan to purchase a large amount of food and goodies.
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.