Bayarmaa is a 37-year-old woman who lives with her husband and 2 children in Bayanhongor province in Southern Mongolia. Her husband is employed and the children attend high school.
Bayarmaa was trained as a hairdresser in 2000. Since that time, she has been working as an hairdresser, renting a shop counter in the trade center. In 2011, she changed and improved her workplace. She has a plan to further develop the business by having more supplies in the salon. Bayarmaa is a professional and hardworking person who says, "I would like to expand the business by buying supplies in different types, like more options for hair color and different shampoos and such." The total amount she is requesting is 300,000 MNT to buy salon 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.