Bayarsaihan is a widowed woman. She lives with her three children in Songino-hairhan district, Ulaanbaatar, capital city of Mongolia. They live in a ger, Mongolian traditional nomadic housing tent, in her older brother's backyard. Her older two children, aged 13 and 17, go to a local secondary school. The younger one hasn't reached school age yet.
Bayarsaihan manages a grocery trading business in Ulaanbaatar city. She started her business in 2008 at a rented booth and gained much experience. She is planning to expand her business and wants to have her own supermarket in the future. She is an honest women who says, "I am trying hard to feed my family." She is requesting a 1,000,000 MNT loan to purchase more inventory for her 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.