Bayanmunh is 44-years-old and lives with her husband and six kids in a ger (Mongolian yurt) in Uvs province, Mongolia. Her eldest 6 children are school students, another child goes to kindergarden and another one stays at home.
She is planning to start a shoe-making business. She already has all the required equipment and she made two pairs of shoes which are quite stylish and comfortable. She is a sharp and hardworking women who says,"I used to run a grocery shop but it is not enough to support our children. Therefore I decided to make shoes which I am good at and it is more profitable." She is requesting MNT 1,600,000 to buy materials.
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.