Battsetseg J. is 44 years old and lives with her husband and three sons in Tuv province in central Mongolia. She and her family all live together in a ger, a traditional Mongolian nomadic tent. Her husband, Bavuu, is a bus driver and goes between neighboring sub-provinces. Her three sons all attend universities in Ulaanbaatar. They have been living at their current address for 21 years. She usually spends her business earnings on daily household consumption and the tuition fees of her three sons.
Battsetseg started her meat trading business in 1999 and since then her working capital has increased 10 times compared with her start-up business. Later on, she plans to operate a cow farm. She hopes to buy real estate for her children in Ulaanbaatar. She is a hardworking and honest person. She saves money for her three children's tuition fees and then she will start her new farming business.
Battsetseg is requesting a 1,500,000 MNT loan in order to purchase more meat and supplies so that she may increase her sales.
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.