Bayarmaa T. is a 46 years old single mother who lives with her adult son in Bayanhongor province of Mongolia. She and her son live in a ger, a traditional Mongolian housing tent. Her only son operates a computer service and photographing business which was started in August 2009, in a rented space to supplement their family income. Bayarmaa started her own business after graduating from vocational training majoring as a hairdresser and photographer in 1984. She has been operating her business for many years and has much experience. In addition, she also works as a servant in the police department of the province to increase her earnings.
Since 2009, she started to rent a space where she operates her hair salon. For the future, she is planning to not only expand and improve her business but also her son's business.
Bayarmaa is a talkative and open minded woman and says, "I want to have my own comfortable work place." She is requesting a 2,000,000 MNT loan to purchase professional photo camera and color printer for her son's 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.