Bayaraa lives with her two children and husband in a 'ger', a Mongolian yurt, in Hovd province of Mongolia. Her two children are attending the local kindergarten. Her husband was working in South Korea from 2006 to 2008. She and her husband started to operate a taxi service business in their hometown in 2008. She is planning to expand her business in the future.
She is a hard-working, diligent and friendly woman who says, "If I take care of my car very well, the car provides me a very good income." She is requesting a 1,500,000 MNT loan to buy spare parts to repair her car.
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.