Sainbayar is 51 years old and lives with her son and husband in a house in the city of Ulaanbaatar, Mongolia. Her husband is in disability pension and stays at home. Her son is an assistant to chief at the CIS Mongolia LLC. His monthly income is 293,558 MNT.
Sainbayar started her business in 1995 by selling meat at the Huchit Shonhor market. From 2010, she has been continuing her business at the Narantuul-2 market. She has collected much business experience and made a constant client base. Her business turnover volume is 1,000,000 MNT and her daily income is about 150,000 MNT.
She purchases meat from countryside herders at 5:00 AM in the morning and makes the by-products and sells the products to retailers. By 13:00 she finishes selling the by-products. Her family supports the business activity very much. She is planning to expand her business activity.
She is a hard-working and diligent woman who says "I want to buy a used small truck to transport products. I am spending sufficient amount of money on taxi expense. It would be nice to have a car, pay the loan interest and own the car." She is requesting a 3,000,000 MNT loan to purchase a new car for her business to transport the meat.
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.