Batjargal is a 36-year-old woman who lives with her husband and three children in Uvurhangai province in Central Mongolia. Her two sons study at the high school and her husband is employed. She has been running a food retail business since 2000 in a small town of the province. She sells food products which are for daily use. She also started retailing loud speakers, other such equipment, and computers. She is planning to expand the business by buying the supplies.
Batjargal is a diligent woman who says, "I would like to develop my business activities further by purchasing necessary equipment for loud speakers and computers so that I can raise my income and save for my sons' college fees." The total amount she is requesting is 2,000,000 MNT to buy more grocery products.
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.