Battulga M. is 42 years old and lives with her husband and four children in Hovd province in western Mongolia. She lives together with her family in a ger, a traditional Mongolian nomadic housing tent. All of her four children attend a local middle school while her husband helps out with her business.
Battulga manages a shoe repair business which she began in 2001 in her town and which is now considered to be the biggest repair center in her town. Her business is more profitable during the cold season.
Battulga purchased a house in Ulaanbaatar, the capital city of Mongolia, and two cars with her business earnings as well. Battulga hopes to complete a new house which is in the process of construction in the yard where the family currently lives. She is requesting a 3,000,000 MNT loan to purchase fabrics and materials used in her shoe repair 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.