Byambadolgor T. is 46 years old and lives with her husband and three children in a ger, a traditional Mongolian nomadic housing tent, in the Uvurhangai province of Mongolia. Her two children both currently attend university in Ulaanbaatar, a capital city of Mongolia.
Byambadolgor operates a grocery and consumer goods trading business in the street with help of her husband. She began her own business in 2000 and has been selling a variety of products in the street since 2004. One or two times a month, she buys her inventory both from wholesale stores locally and in Ulaanbaatar. She is a very accurate and tough minded person.
Byambadolgor would like to one day own her own grocery store where she can sell a larger variety of goods that will attract many more customers. And also she wants to provide her children a good education. She is requesting a 3,700,000 Mongolian tugrug loan so that he can purchase a larger variety of grocery products at wholesale price from Ulaanbaatar.
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.