Byambaa C. is a 45 year old married woman with three children. She lives in a ger, a traditional Mongolian housing tent, with her family in Huvsgul province of Mongolia. Her two oldest children attend university and her youngest daughter attends a local high school. Her husband is a driver of a horse cart and transports a load to supplement his family income.
Byambaa operates a dairy trading business in her town. She purchases a large amount of dairy products from herders at wholesale price and sells back in a local market at retail price. She has been engaged in this business for 5 years and has built a stable operation. Over the years of operation, she has managed to expand her business and increase her product line, which sells 10 types of dairy products today. For the future, she hopes to grow her business by adding more product types. She is a very modest and hardworking person. Her earnings have enabled her to pay her children's tuition fees. Byambaa is requesting a 1,000,000 MNT loan to purchase more dairy supplies from herders in order to 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.