Badmaa is 38 years old and lives with her daugther and husband in a Ger (Mongolian yurt) in Songinohairhan district of Ulaanbaatar city, Mongolia. Her husband works as a driver and his monthly salary is 450,000 MNT. Badmaa operates flour and rice selling business. She buying flour and rice from the factories and selling them at retail prices, since 2003. She is continuously managing the business. She pays 78,000 MNT in rent for the commercial space. Her daily sales income is 150,000 MNT while her monthly profit is between 400,000 MNT to 500,000 MNT. She has gained much business experience and skills in her field.
She is a diligent and nice woman who says, "I think people learn by doing and making mistakes." She is requesting a 2,500,000 MNT loan to purchase 185 bags of flour.
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.