Battsetseg S. is 29 years old and a single parent with three children. She lives with her children and her mother in a winter house in her brother's yard in Harhorin, the ancient capital city of the Mongolian empire, . All three of her children attend a local secondary school while her mother is retired.
Battsetseg operates a knitting and felt products making business in her town. She started her business in 2007 after purchasing a wool spinning machine. In addition, she started to make traditional boots for children to supplement her earnings. She has received many orders for her new item. She is a modest person and is requesting a 500,000 MNT loan in order to purchase materials and supplies to make traditional Mongolian boots.
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.