Bayarmaa is a 42-year-old woman who lives with her husband and 3 children in Hovd province in Western Mongolia. Her husband is a carpenter. Two of her children study at the college and the youngest one studies at the high school.
She started a retailing business in 1999, and since that time she has been selling felt made products and also food products. She trades the food products between March to November, and rest of the time she trades the felt made products and some wood carved items.
Bayarmaa is a hardworking and a diligent woman who says, "I would like to expand the business activity by buying necessary materials like wood, and also food supplies." The total amount she is requesting is 2,000,000 MNT to buy the necessary materials and food supplies.
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.