Baasanhuu R. is 43 years old and lives with her husband and three children in the Arhangai province of Mongolia. She and her family live together in an apartment. All three children attend a local school.
Baasanhuu operates a meat retail business in the local market in her town. She began her business in 2005 with working capital of 150,000 MNT. After several years of hard work and with a loyal customer base, her working capital now exceeds 700,000 MNT.
Over the years, she has gained a significant experience and many permanent customers. She would like to expand their business in the future and own her own livestock.
Baasanhuu is a hard-working and honest woman and is requesting a 700,000 MNT loan in order to purchase more meat to sell.
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.