Bayarhuu is a 26 year old woman who lives with her husband and 3 children in Uvs province in Western Mongolia. Her husband is employed and two of her children go to school.
Bayarhuu has been running an eyeglass retails business since 2010. Her business has been successful because she brings supplies in different styles and colors. Therefore, she has made many regular customers in the town.
With the upcoming summer months, the demand for sunglasses will increase. She plans to purchase supplies from China. Bayarhuu is a good-natured woman who says that "I would like to expand the business activity by buying the sunglasses in different types and color, so that the customers would be satisfied with the diversity and I could raise my income". The total amount she is requesting is 1,200,000 MNT.
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.