Battsetseg is a 32 year old woman who lives with her husband and a son in the second largest city in Mongolia. Her husband works as a salesman and a son studies at the high school. She has started lingerie retails in a shop counter in the biggest international market of the city. During these 4 years, she already made numbers of regular customers and improve the family's income. The business has been successful in the latest years. Therefore, she is planning to expand the business and add another shop counter.
Battsetseg is a good-natured and gentle woman who says, "I would like to expand the business by having another shop counter and getting the supplies in there in large quantities to raise the household". The total amount she is requesting is 2,500,000 MNT for the business to purchase more lingerie.
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.