Byambagerel is 35 years old and lives with her brother-in-law and daughter in a house in the Sansar area, Ulaanbaatar, the capital city of Mongolia. Her daughter, age 5, attends kindergarten and her brother-in-law manages a taxi service business. She conducts a meat trading business with the help of her older two sisters at a rented stall at a trading center. She started her business after her secondary school graduation and gained much experience. With 10 years of business operation she has been able to stabilize her business and build a strong customer base. She is a diligent and responsible woman who is planning to expand her business in the future. She says, "I am receiving loan many times from Xacbank, one of the famous banks in Mongolia. I understood that if I use my loan wisely I can improve both my business operation and living condition. In the future I want to have my own apartment using the loan money carefully." She is requesting a 1,500,000 MNT loan to purchase meat 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.