Mrs. Battsetseg is 35 years old and lives with her husband, N. Bayar-Erdene, and three children in a ger (Mongolian housing tent) in Uvurhangai province, Mongolia. Her children go to the secondary school, and her husband works in a construction company.
She started her beauty salon business in 2011. Her business is located in the center market in Uvurhangai. Her business seems to be sustainable because she has gained a number of regular customers. She is a good-natured woman who says, "I want to expand my business, [my] beauty shop." She needs 1,200,000 Mongolian tugriks (MNT) to purchase beauty salon equipment.
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.