Bayartsetseg is a twenty-six years old woman who lives with her parents in Dornogobi province in Southern Mongolia. Her parents are retirees. She started running taxi service in 2011 with an Elantra car. This has been source of income for her and she has used it to improve the standards of living of the household. As she is a local person, she knows the routes well.
Due to the bad roads in Mongolia, her car has broken down and needs to be repaired. In order to continue doing her business, she needs the loan. Bayartsetseg is an active woman who says that "I would like to develop the business by having my car repaired. I wish to increase my income and start a new business activity". The total amount she is requesting is 1,000,000 MNT to purchase window-panes for her car and her ger, a Mongolian traditional house.
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.