Banzragch is 54-year-old widow and lives with her five children in a house in Zavhan province, Mongolia. Her older three children are all grown up and work in public and private companies. Her younger two daughters go to a college and a secondary school. She manages a vegetable trading business in her town. She has been planting and harvesting vegetables for 31 years and became expert in her field. Now she owns one hectare land where she plants daily-consumed vegetables and large amount of garlic. She is a hard-working woman who says, "Last year all my planted garlic was stolen. So this year I want to have my own storage house in order to preserve all my vegetables." She is requesting a 3,000,000 MNT loan to build a storage house 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.