Batnasan is 51 years old and lives with her three children in an apartment in the Songino-Hairhan district of Ulaanbaatar, Mongolia's capital. Her younger sons are students while her daughter helps with the family business, a store where the family has been selling construction materials since 2006. As a way of increasing sales, Batnasan is planning to open a second store at a new location. She is an honest women who is working hard to feed her family and emphasizes that, "with the loan I want to improve my business." She is seeking to borrow 1,500,000 MNT to buy more items to sell to her customers.
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.