Bayaraa is 43 years old and lives with her husband and two daughters in a ger, a Mongolian yurt, in Hovd province, Mongolia. Her oldest daughter is a student while youngest one is a pupil. Her husband, who used to conduct a grocery trading business with Bayaraa, manages a cell phone trading business in his town. Bayaraa operates a grocery trading business which started at a rented stall at a local market in 1998. Since 2007 she began conducting her business independently. Now she sells all kinds of daily consumption vegetables such as carrots, potatoes, cabbage, and onions etc. She is one of the most experienced businesswomen in her town. She is a polite woman who says, "During warm season sales increases much compared with other seasons. So I need more goods to sell." She is requesting a 1,700,000 MNT loan to purchase vegetables 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.