Badamhorloo B., 55, has six sons and one daughter, some of whom live separately from their parents. She lives with her husband and two adult-aged sons in Hovd province in western Mongolia. They live in their ger, a traditional Mongolian nomadic housing tent. Her oldest son, 26, serves in the Mongolian military force and is going to marry soon. Her youngest son, 22, currently stays at home. Her husband works as a herder in the countryside. Badamhorloo has been operating a raw materials trading business for past 12 years by purchasing a variety of cans, bottles, aluminum, etc. Over the years of successful business operation, her earnings have enabled her to buy a new car for herself. She started a taxi service in 2004 using her car. Badamhorloo is a very hardworking woman. She hopes to grow both of her businesses. She is requesting a 1,500,000 MNT loan to purchase more cans and aluminum for her raw material trading 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.