Baigalmaa is a 31-year-old woman who lives with her husband and 3 children in Hovd province in Western Mongolia. Her husband works as a doorman and the kids go to the kindergarten. She has been running a retail garment business since 2009. She brings the supplies from Erlian city, China. Previously she used to work as a herder. Now she has many regular customers and the business has been successful in these years.
Baigalmaa is a good natured woman who says, "I would like to expand the business by purchasing supplies in large quantities in different types so that I could save the transportation expenses and save for the future." The total amount she is requesting is 3,000,000 MNT to purchase her own stall.
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.