Byambaa is 54 years old and lives with her grandson, a monk, in a ger (a Mongolian yurt) in Zavhan province, Mongolia. Byambaa started her garment sewing business in 1990. Her service is well known and she's a trusted supplier to many shops. Her products are very stylish and of high quality. Now that winter is here, Byambaa is getting a lot of orders; therefore, she is requesting a loan of 500,000 MNT to buy supplies. Byambaa is a sharp and hardworking woman who says, "It is hard to replace his late mother. I have to work hard in order to support my grandson."
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.